Caterpillar Inc. $CAT Shares Sold by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.2% in the 2nd quarter, according to its most recent disclosure with the 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 filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC increased its position in Caterpillar by 16.8% in the 2nd 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 during the period. Midwest Trust Co acquired a new position in shares of Caterpillar during the second quarter valued at $66,822,000. 1ST Source Bank lifted its holdings in Caterpillar by 1.4% in the second quarter. 1ST Source Bank now owns 9,434 shares of the industrial products company’s stock worth $3,662,000 after purchasing an additional 131 shares during the period. CSM Advisors LLC grew its position 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 buying an additional 63,663 shares in the last quarter. Finally, Rathbones Group PLC increased its stake in Caterpillar by 2.4% during the 2nd quarter. Rathbones Group PLC now owns 227,901 shares of the industrial products company’s stock valued at $88,473,000 after buying an additional 5,430 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

NYSE CAT opened at $562.82 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The firm has a market capitalization of $263.39 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company has a 50 day simple moving average of $491.77 and a 200-day simple moving average of $418.73. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $596.21.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.43. The firm had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.17 EPS. Equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 31.01%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAT. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Jefferies Financial Group boosted their price objective on Caterpillar from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America raised their target price on Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Citigroup boosted their price target on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research report on Wednesday. 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 assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $596.59.

Insider Activity

In other news, Director David Maclennan bought 300 shares of the stock in a transaction on Thursday, November 6th. The shares were purchased at an average price of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lange Bob De sold 14,638 shares of the firm’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 sale, the insider directly owned 80,209 shares of the company’s stock, valued at $45,106,333.24. This trade represents a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 71,823 shares of company stock valued at $34,477,790. 0.33% of the stock is currently owned by company insiders.

Caterpillar Company 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.