Whittier Trust Co. Trims Position in Caterpillar Inc. (CAT)

Whittier Trust Co. trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 64,171 shares of the industrial products company’s stock after selling 2,873 shares during the quarter. Whittier Trust Co.’s holdings in Caterpillar were worth $8,706,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vicus Capital lifted its position in shares of Caterpillar by 8.2% in the 1st quarter. Vicus Capital now owns 4,462 shares of the industrial products company’s stock valued at $658,000 after acquiring an additional 338 shares in the last quarter. Wade G W & Inc. lifted its position in shares of Caterpillar by 12.4% in the 1st quarter. Wade G W & Inc. now owns 3,138 shares of the industrial products company’s stock valued at $462,000 after acquiring an additional 345 shares in the last quarter. Courier Capital LLC lifted its position in shares of Caterpillar by 8.0% in the 2nd quarter. Courier Capital LLC now owns 4,992 shares of the industrial products company’s stock valued at $677,000 after acquiring an additional 371 shares in the last quarter. Mason Street Advisors LLC lifted its position in shares of Caterpillar by 0.5% in the 1st quarter. Mason Street Advisors LLC now owns 83,248 shares of the industrial products company’s stock valued at $12,269,000 after acquiring an additional 379 shares in the last quarter. Finally, Reliance Trust Co. of Delaware lifted its position in shares of Caterpillar by 4.8% in the 2nd quarter. Reliance Trust Co. of Delaware now owns 8,293 shares of the industrial products company’s stock valued at $1,125,000 after acquiring an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 66.99% of the company’s stock.

In other news, insider Thomas A. Pellette sold 54,481 shares of the stock in a transaction on Monday, May 7th. The shares were sold at an average price of $150.17, for a total transaction of $8,181,411.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David L. Calhoun purchased 5,000 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were acquired at an average price of $155.37 per share, for a total transaction of $776,850.00. Following the purchase, the director now owns 19,579 shares in the company, valued at $3,041,989.23. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.

CAT has been the subject of several research analyst reports. TheStreet upgraded shares of Caterpillar from a “c+” rating to an “a-” rating in a research report on Tuesday, April 24th. Buckingham Research started coverage on shares of Caterpillar in a research report on Wednesday, April 11th. They issued a “buy” rating and a $170.00 target price for the company. Citigroup upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Monday, April 23rd. Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Wednesday, April 18th. Finally, Wells Fargo & Co set a $180.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research report on Monday, April 16th. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $172.51.

Shares of Caterpillar opened at $142.56 on Monday, according to MarketBeat.com. Caterpillar Inc. has a 12 month low of $112.09 and a 12 month high of $173.24. The firm has a market cap of $85.24 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 1.00 and a beta of 1.32. The company has a current ratio of 1.36, a quick ratio of 0.96 and a debt-to-equity ratio of 1.52.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Friday, July 20th will be paid a dividend of $0.86 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $0.78. The ex-dividend date is Thursday, July 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.41%. Caterpillar’s dividend payout ratio is 50.00%.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

Featured Article: Book Value Per Share – BVPS

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply