Mechanics Bank Trust Department Has $603,000 Position in Caterpillar Inc. (CAT)

Mechanics Bank Trust Department decreased its stake in Caterpillar Inc. (NYSE:CAT) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,500 shares of the industrial products company’s stock after selling 648 shares during the period. Mechanics Bank Trust Department’s holdings in Caterpillar were worth $603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CAT. Mn Services Vermogensbeheer B.V. increased its position in Caterpillar by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 15,621 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 516 shares during the period. Nicolet Bankshares Inc. increased its position in Caterpillar by 4.9% in the first quarter. Nicolet Bankshares Inc. now owns 3,855 shares of the industrial products company’s stock valued at $358,000 after buying an additional 181 shares during the period. Country Trust Bank increased its position in Caterpillar by 2.4% in the first quarter. Country Trust Bank now owns 184,409 shares of the industrial products company’s stock valued at $17,106,000 after buying an additional 4,278 shares during the period. V Wealth Management LLC increased its position in Caterpillar by 15.3% in the first quarter. V Wealth Management LLC now owns 5,108 shares of the industrial products company’s stock valued at $474,000 after buying an additional 677 shares during the period. Finally, Diversified Trust Co increased its position in Caterpillar by 1.9% in the first quarter. Diversified Trust Co now owns 2,777 shares of the industrial products company’s stock valued at $258,000 after buying an additional 53 shares during the period. 70.97% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, April 25th. The industrial products company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.66. Caterpillar had a positive return on equity of 13.44% and a negative net margin of 0.17%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the firm posted $0.67 EPS. Caterpillar’s revenue for the quarter was up 3.8% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Saturday, May 20th. Investors of record on Monday, April 24th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $3.08 annualized dividend and a yield of 3.01%. Caterpillar’s payout ratio is -2,369.23%.

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Several research analysts have recently issued reports on CAT shares. Evercore ISI upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, February 10th. Barclays PLC raised their target price on shares of Caterpillar from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Friday, January 27th. Raymond James Financial, Inc. upgraded shares of Caterpillar to a “buy” rating and set a $55.00 target price on the stock in a report on Thursday, April 27th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a report on Monday, May 15th. Finally, Bank of America Corp upgraded shares of Caterpillar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $105.00 to $120.00 in a report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $94.65.

In related news, insider Lange Bob De bought 1,000 shares of the stock in a transaction that occurred on Tuesday, February 21st. The stock was purchased at an average cost of $99.32 per share, with a total value of $99,320.00. Following the purchase, the insider now directly owns 10,230 shares of the company’s stock, valued at approximately $1,016,043.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.15% of the company’s stock.

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