Parkside Financial Bank & Trust Sells 503 Shares of Caterpillar Inc. (NYSE:CAT)

Parkside Financial Bank & Trust cut its position in Caterpillar Inc. (NYSE:CAT) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,053 shares of the industrial products company’s stock after selling 503 shares during the period. Parkside Financial Bank & Trust’s holdings in Caterpillar were worth $1,494,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gilfoyle & Co LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $30,000. Fortitude Family Office LLC acquired a new stake in Caterpillar in the 4th quarter valued at $39,000. Authentikos Wealth Advisory LLC bought a new position in shares of Caterpillar in the 3rd quarter valued at about $41,000. Rational Advisors LLC bought a new position in Caterpillar in the third quarter valued at approximately $42,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Caterpillar during the 3rd quarter worth approximately $44,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT traded up $2.51 during trading hours on Wednesday, reaching $365.76. The stock had a trading volume of 536,251 shares, compared to its average volume of 2,403,389. The company’s 50-day moving average is $348.44 and its two-hundred day moving average is $299.59. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $382.01. The stock has a market capitalization of $182.66 billion, a PE ratio of 18.12, a PEG ratio of 1.59 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. The business had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. Caterpillar’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.86 earnings per share. Research analysts expect that Caterpillar Inc. will post 21.32 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.42%. Caterpillar’s payout ratio is 25.82%.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the transaction, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares in the company, valued at $7,741,725.20. The disclosure for this sale can be found here. Insiders have sold a total of 45,769 shares of company stock worth $14,509,306 over the last quarter. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and upped their price target for the stock from $321.00 to $338.00 in a research report on Tuesday, February 20th. Citigroup raised their price objective on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Wells Fargo & Company boosted their price target on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, StockNews.com lowered shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $307.56.

About Caterpillar

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.