Caterpillar Inc. (NYSE:CAT) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 273,784 shares of the industrial products company’s stock after selling 14,890 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Caterpillar worth $91,197,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $1,660,560,000. Capital Wealth Planning LLC boosted its holdings in Caterpillar by 27,495.2% in the 4th quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock worth $349,616,000 after buying an additional 1,178,168 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Caterpillar by 19.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock worth $947,875,000 after buying an additional 529,420 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Caterpillar by 5,293.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock valued at $142,620,000 after acquiring an additional 473,416 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after acquiring an additional 307,479 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on CAT shares. Truist Financial reissued a “buy” rating and issued a $399.00 price objective (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. UBS Group raised their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. HSBC upped their price objective on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Evercore ISI decreased their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday. Finally, Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and upped their price target for the company from $293.00 to $350.00 in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $336.31.

Caterpillar Trading Down 0.4 %

NYSE CAT traded down $1.25 during trading on Tuesday, hitting $343.40. The stock had a trading volume of 1,479,491 shares, compared to its average volume of 2,721,601. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The firm has a 50 day moving average price of $334.79 and a 200 day moving average price of $341.09. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $167.94 billion, a PE ratio of 15.56, a PEG ratio of 1.72 and a beta of 1.12.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the previous year, the company earned $5.55 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Caterpillar Inc. will post 21.57 earnings per share for the current year.

Caterpillar declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a dividend of $1.41 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 annualized dividend and a yield of 1.64%. Caterpillar’s payout ratio is presently 25.46%.

Caterpillar Profile

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.