Keybank National Association OH Has $74.24 Million Stock Position in Caterpillar Inc. $CAT

Keybank National Association OH lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 42.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 191,239 shares of the industrial products company’s stock after acquiring an additional 56,757 shares during the period. Keybank National Association OH’s holdings in Caterpillar were worth $74,241,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CAT. Aire Advisors LLC raised its stake in shares of Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after purchasing an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC grew its holdings in Caterpillar by 0.5% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after buying an additional 25 shares in the last quarter. GSB Wealth Management LLC raised its position in Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after buying an additional 26 shares during the last quarter. Verum Partners LLC lifted its stake in Caterpillar by 2.5% during the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 26 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors boosted its holdings in Caterpillar by 0.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $586.77 on Thursday. The firm has a market capitalization of $274.89 billion, a PE ratio of 29.85, a P/E/G ratio of 2.99 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The company has a 50-day moving average price of $472.25 and a two-hundred day moving average price of $405.20. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same period in the prior year, the company posted $5.17 EPS. Caterpillar’s revenue was up 9.5% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, October 20th. Caterpillar’s payout ratio is presently 30.72%.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,161 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,985 shares of company stock worth $25,559,300 in the last quarter. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays upped their target price on Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. Jefferies Financial Group upped their price objective on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. DA Davidson raised their target price on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada started coverage on shares of Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $518.19.

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.