Trinity Legacy Partners LLC Sells 123 Shares of Caterpillar Inc. (NYSE:CAT)

Trinity Legacy Partners LLC decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,439 shares of the industrial products company’s stock after selling 123 shares during the quarter. Caterpillar accounts for approximately 1.6% of Trinity Legacy Partners LLC’s investment portfolio, making the stock its 16th biggest holding. Trinity Legacy Partners LLC’s holdings in Caterpillar were worth $6,870,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in shares of Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. Canada Pension Plan Investment Board boosted its stake in Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after acquiring an additional 307,479 shares during the last quarter. Altshuler Shaham Ltd grew its position in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after acquiring an additional 266,969 shares during the period. Swedbank AB purchased a new stake in shares of Caterpillar during the 1st quarter worth approximately $97,042,000. Finally, Capital International Investors raised its holdings in shares of Caterpillar by 99.9% in the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after purchasing an additional 244,253 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Activity at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO William E. Schaupp sold 968 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 11,092 shares of company stock worth $4,059,378 over the last ninety days. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CAT. Truist Financial lifted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their price target on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Barclays increased their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $358.19.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $408.21 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a one year low of $233.82 and a one year high of $418.50. The business’s 50 day simple moving average is $376.06 and its two-hundred day simple moving average is $352.50. The stock has a market capitalization of $197.94 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the company posted $5.52 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. Analysts forecast that Caterpillar Inc. will post 21.77 EPS for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

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.