Trustco Bank Corp N Y Purchases 200 Shares of Caterpillar Inc. $CAT

Trustco Bank Corp N Y raised its position in Caterpillar Inc. (NYSE:CAT) by 17.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,318 shares of the industrial products company’s stock after acquiring an additional 200 shares during the period. Trustco Bank Corp N Y’s holdings in Caterpillar were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hibernia Wealth Partners LLC purchased a new stake in Caterpillar in the 2nd quarter worth about $256,000. Intrua Financial LLC increased its stake in shares of Caterpillar by 56.8% in the second quarter. Intrua Financial LLC now owns 1,262 shares of the industrial products company’s stock worth $490,000 after purchasing an additional 457 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Caterpillar in the second quarter valued at approximately $716,000. D Orazio & Associates Inc. lifted its stake in shares of Caterpillar by 2.7% during the 2nd quarter. D Orazio & Associates Inc. now owns 1,012 shares of the industrial products company’s stock valued at $393,000 after buying an additional 27 shares in the last quarter. Finally, ABN Amro Investment Solutions bought a new position in Caterpillar in the 2nd quarter worth approximately $3,200,000. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Oppenheimer increased their price target on shares of Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Robert W. Baird increased their target price on shares of Caterpillar from $612.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Truist Financial reaffirmed a “buy” rating and issued a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Wells Fargo & Company started coverage on Caterpillar in a research note on Thursday. They set an “overweight” rating and a $675.00 price objective for the company. Finally, Citigroup raised their price target on Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus price target of $600.94.

Insider Activity

In related news, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the transaction, the insider owned 80,209 shares in the company, valued at $45,106,333.24. The trade was a 15.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Schaupp sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total transaction of $686,664.00. Following the transaction, the chief accounting officer directly owned 1,323 shares in the company, valued at approximately $757,047.06. The trade was a 47.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 86,229 shares of company stock valued at $43,323,118. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $553.61 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The stock has a market cap of $259.08 billion, a PE ratio of 28.42, a PEG ratio of 3.33 and a beta of 1.51. The company’s fifty day moving average is $503.67 and its 200 day moving average is $425.24. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $596.21.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.43. The business had revenue of $17.64 billion during 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 was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $5.17 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is 31.01%.

Caterpillar 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.