Caterpillar Inc. (NYSE:CAT) Stake Reduced by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,189 shares of the industrial products company’s stock after selling 160 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Caterpillar were worth $1,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Legal & General Group Plc increased its holdings in shares of Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after buying an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after purchasing an additional 198,123 shares during the period. Finally, Capital Research Global Investors increased its stake in Caterpillar by 6.3% in the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after purchasing an additional 119,326 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $2.32 during trading hours on Friday, hitting $389.38. 121,241 shares of the stock were exchanged, compared to its average volume of 2,615,402. Caterpillar Inc. has a one year low of $223.76 and a one year high of $403.60. The company’s 50 day moving average is $367.72 and its 200 day moving average is $350.86. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The firm has a market capitalization of $190.43 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.85 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.55 earnings per share. On average, research analysts expect that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

Insider Transactions at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction 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 sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several recent analyst reports. Barclays raised their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI decreased their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, Bank of America raised their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $355.50.

About Caterpillar

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.