Diversified Trust Co Increases Holdings in Caterpillar Inc. (NYSE:CAT)

Posted by on Jun 20th, 2023

Diversified Trust Co lifted its position in Caterpillar Inc. (NYSE:CAT – Get Rating) by 16.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,463 shares of the industrial products company’s stock after purchasing an additional 1,323 shares during the period. Diversified Trust Co’s holdings in Caterpillar were worth $2,166,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Caterpillar by 0.7% in the third quarter. State Street Corp now owns 40,070,278 shares of the industrial products company’s stock valued at $6,574,731,000 after purchasing an additional 291,836 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Caterpillar by 130,632.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock worth $2,343,859,000 after buying an additional 9,776,533 shares during the period. Geode Capital Management LLC lifted its holdings in Caterpillar by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 9,130,707 shares of the industrial products company’s stock worth $2,184,005,000 after buying an additional 110,026 shares during the period. Fisher Asset Management LLC lifted its holdings in Caterpillar by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 7,390,616 shares of the industrial products company’s stock worth $1,770,496,000 after buying an additional 100,168 shares during the period. Finally, Morgan Stanley lifted its holdings in Caterpillar by 17.2% during the fourth quarter. Morgan Stanley now owns 6,608,165 shares of the industrial products company’s stock worth $1,583,053,000 after buying an additional 969,222 shares during the period. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $245.27 on Tuesday. The business’s 50-day moving average is $220.62 and its two-hundred day moving average is $232.39. The company has a market capitalization of $126.40 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.15 and a beta of 1.09. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.43. Caterpillar Inc. has a fifty-two week low of $160.60 and a fifty-two week high of $266.04.

Caterpillar (NYSE:CAT – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The industrial products company reported $4.91 earnings per share for the quarter, topping the consensus estimate of $3.79 by $1.12. The company had revenue of $15.86 billion for the quarter, compared to the consensus estimate of $15.27 billion. Caterpillar had a return on equity of 50.98% and a net margin of 11.52%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned $2.88 EPS. Research analysts predict that Caterpillar Inc. will post 17.72 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Thursday, July 20th will be given a dividend of $1.30 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.20. This represents a $5.20 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, July 19th. Caterpillar’s dividend payout ratio (DPR) is currently 35.48%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CAT shares. Stifel Nicolaus upped their target price on Caterpillar from $273.00 to $275.00 in a report on Monday, May 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Caterpillar from $228.00 to $225.00 and set a “hold” rating for the company in a report on Wednesday, April 12th. Tigress Financial upped their price target on Caterpillar from $266.00 to $282.00 in a research report on Wednesday, May 31st. StockNews.com raised Caterpillar from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Evercore ISI reduced their price target on Caterpillar from $288.00 to $263.00 in a research report on Tuesday, May 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $239.17.

About Caterpillar

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Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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