Global Trust Asset Management LLC Purchases 1,004 Shares of Caterpillar Inc. (NYSE:CAT)

Global Trust Asset Management LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,413 shares of the industrial products company’s stock after purchasing an additional 1,004 shares during the quarter. Caterpillar accounts for about 1.4% of Global Trust Asset Management LLC’s holdings, making the stock its 13th biggest holding. Global Trust Asset Management LLC’s holdings in Caterpillar were worth $3,449,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Partnership Wealth Management LLC acquired a new stake in Caterpillar during the fourth quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new stake in Caterpillar during the fourth quarter worth approximately $27,000. Gilfoyle & Co LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $30,000. Vima LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $30,000. Finally, Pineridge Advisors LLC acquired a new stake in Caterpillar in the fourth quarter valued at approximately $36,000. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAT has been the subject of a number of research reports. HSBC raised their price objective on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. TD Cowen raised their price objective on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Truist Financial assumed coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, The Goldman Sachs Group lifted their target price on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and an average target price of $327.13.

Caterpillar Trading Up 1.1 %

Shares of NYSE CAT traded up $3.61 during midday trading on Monday, reaching $331.45. The company had a trading volume of 1,141,234 shares, compared to its average volume of 2,666,069. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. 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 firm’s fifty day moving average price is $343.31 and its 200-day moving average price is $327.09. The stock has a market cap of $162.10 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.84 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a $1.41 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.70%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio is currently 23.48%.

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

Insider Transactions at Caterpillar

In related news, Director David Maclennan purchased 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now directly owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Caterpillar news, Director David Maclennan bought 500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 in the company, valued at $6,807,820. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.