Caterpillar Inc. (NYSE:CAT) Shares Bought by STAR Financial Bank

STAR Financial Bank raised its stake in Caterpillar Inc. (NYSE:CATFree Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,800 shares of the industrial products company’s stock after acquiring an additional 43 shares during the quarter. STAR Financial Bank’s holdings in Caterpillar were worth $660,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CAT. Partnership Wealth Management LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar during the 1st quarter worth approximately $27,000. Fairman Group LLC acquired a new position in shares of Caterpillar during the 1st quarter worth approximately $29,000. Finally, Gilfoyle & Co LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $30,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the transaction, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 21,847 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on CAT. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group boosted their price target on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Truist Financial began coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target for the company. TD Cowen boosted their price target on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup initiated coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $329.63.

Check Out Our Latest Stock Analysis on Caterpillar

Caterpillar Trading Up 0.7 %

CAT traded up $2.33 during mid-day trading on Wednesday, hitting $328.39. 2,904,385 shares of the stock were exchanged, compared to its average volume of 2,692,612. The firm’s fifty day moving average is $337.28 and its two-hundred day moving average is $331.44. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The company has a market cap of $160.60 billion, a PE ratio of 14.83, a PEG ratio of 1.70 and a beta of 1.12.

Caterpillar (NYSE:CATGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Equities analysts forecast that Caterpillar Inc. will post 21.73 earnings per share for the current fiscal year.

Caterpillar declared that its board 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 reacquire up to 12.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.41 dividend. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.72%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

About Caterpillar

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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