PNC Financial Services Group Inc. Trims Holdings in Caterpillar Inc. (NYSE:CAT)

PNC Financial Services Group Inc. trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 410,750 shares of the industrial products company’s stock after selling 2,969 shares during the quarter. PNC Financial Services Group Inc. owned about 0.09% of Caterpillar worth $149,004,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter worth approximately $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar during the fourth quarter worth about $31,000. Capital Performance Advisors LLP purchased a new position in Caterpillar during the third quarter valued at $36,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth about $36,000. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Evercore ISI boosted their price target on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Morgan Stanley reduced their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $383.80.

Caterpillar Stock Performance

NYSE CAT opened at $350.97 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The stock has a market cap of $167.74 billion, a PE ratio of 15.90, a P/E/G ratio of 1.87 and a beta of 1.15. The stock has a fifty day simple moving average of $363.11 and a 200-day simple moving average of $372.77. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s payout ratio is currently 25.56%.

Insider Activity at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Caterpillar Company 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.