Arbor Trust Wealth Advisors LLC Reduces Holdings in Caterpillar Inc. $CAT

Arbor Trust Wealth Advisors LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,759 shares of the industrial products company’s stock after selling 380 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Caterpillar were worth $2,236,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CAT. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Caterpillar by 16.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 7,161 shares of the industrial products company’s stock valued at $2,780,000 after acquiring an additional 1,031 shares in the last quarter. Midwest Trust Co purchased a new stake in Caterpillar during the 2nd quarter worth about $66,822,000. 1ST Source Bank raised its stake in Caterpillar by 1.4% in the 2nd quarter. 1ST Source Bank now owns 9,434 shares of the industrial products company’s stock valued at $3,662,000 after purchasing an additional 131 shares during the last quarter. CSM Advisors LLC lifted its holdings in Caterpillar by 248.1% in the 2nd quarter. CSM Advisors LLC now owns 89,328 shares of the industrial products company’s stock valued at $34,678,000 after purchasing an additional 63,663 shares in the last quarter. Finally, Rathbones Group PLC boosted its stake in shares of Caterpillar by 2.4% during the 2nd quarter. Rathbones Group PLC now owns 227,901 shares of the industrial products company’s stock worth $88,473,000 after purchasing an additional 5,430 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $729.00 price objective (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Robert W. Baird boosted their price target on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Hsbc Global Res raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on Caterpillar from $650.00 to $730.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $596.59.

Insider Transactions at Caterpillar

In related news, Director David Maclennan acquired 300 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of $568.86 per share, with a total value of $170,658.00. Following the completion of the transaction, the director directly owned 7,947 shares of the company’s stock, valued at $4,520,730.42. This trade represents a 3.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 14,638 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider directly owned 80,209 shares of the company’s stock, valued at $45,106,333.24. The trade was a 15.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 71,823 shares of company stock worth $34,477,790 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Down 1.2%

Shares of NYSE:CAT opened at $562.82 on Friday. The stock has a 50-day simple moving average of $491.77 and a 200-day simple moving average of $418.73. The stock has a market capitalization of $263.39 billion, a P/E ratio of 28.89, a PEG ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $596.21. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same period in the previous year, the company posted $5.17 earnings per share. Caterpillar’s revenue was up 9.5% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is 31.01%.

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.