Trust Co. of Toledo NA OH Acquires 261 Shares of Caterpillar Inc. (NYSE:CAT)

Trust Co. of Toledo NA OH lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,491 shares of the industrial products company’s stock after acquiring an additional 261 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Caterpillar were worth $4,103,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new stake in Caterpillar during the fourth quarter valued at about $27,000. Thompson Investment Management Inc. purchased a new position in shares of Caterpillar in the first quarter worth about $27,000. Bbjs Financial Advisors LLC bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $28,000. Financial Connections Group Inc. purchased a new stake in Caterpillar during the 2nd quarter valued at about $28,000. Finally, Fairman Group LLC bought a new position in Caterpillar during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.4 %

Caterpillar stock opened at $394.09 on Thursday. Caterpillar Inc. has a one year low of $223.76 and a one year high of $397.22. The stock has a fifty day moving average of $349.66 and a 200 day moving average of $347.47. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock has a market cap of $192.73 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.55 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar announced that its board has approved a share buyback plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Bank of America boosted their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI dropped their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Truist Financial reissued a “buy” rating and issued a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Raymond James began coverage on Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $339.94.

Insiders Place Their Bets

In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 7,668 shares of company stock worth $2,665,760. Company insiders own 0.33% of the company’s stock.

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.