Trust Co. of Toledo NA OH Sells 446 Shares of Caterpillar Inc. (NYSE:CAT)

Trust Co. of Toledo NA OH cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,230 shares of the industrial products company’s stock after selling 446 shares during the period. Trust Co. of Toledo NA OH’s holdings in Caterpillar were worth $3,749,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Caterpillar by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after purchasing an additional 129,216 shares in the last quarter. Capital World Investors increased its holdings in shares of Caterpillar by 0.3% in the 4th quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after buying an additional 96,479 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Caterpillar by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after buying an additional 179,908 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Caterpillar by 1.6% in the 3rd quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after acquiring an additional 111,384 shares during the last quarter. Finally, Morgan Stanley grew its position in Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after acquiring an additional 47,258 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Caterpillar news, Director David Maclennan purchased 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of several analyst reports. StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and increased their target price for the company from $293.00 to $350.00 in a research note on Friday, April 26th. HSBC lifted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group increased their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and an average price target of $323.35.

Caterpillar Stock Up 0.8 %

Shares of Caterpillar stock opened at $324.87 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The stock has a market cap of $158.88 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.65 and a beta of 1.14. The firm’s 50-day moving average is $345.85 and its two-hundred day moving average is $325.57. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, research analysts expect that Caterpillar Inc. will post 21.81 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is 23.48%.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.