Community Bank N.A. Trims Position in Caterpillar Inc. (NYSE:CAT)

Community Bank N.A. lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,835 shares of the industrial products company’s stock after selling 50 shares during the period. Community Bank N.A.’s holdings in Caterpillar were worth $6,584,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the second quarter worth approximately $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar in the 2nd quarter worth $28,000. Capital Performance Advisors LLP acquired a new position in Caterpillar in the third quarter valued at $36,000. Fairscale Capital LLC purchased a new stake in Caterpillar during the second quarter valued at about $36,000. Finally, POM Investment Strategies LLC increased its stake in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 108 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. This trade represents a 36.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares in the company, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,589 shares of company stock worth $7,113,953. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAT. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $321.00 to $365.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. UBS Group lifted their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Barclays increased their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $365.33.

Caterpillar Trading Up 0.6 %

CAT opened at $406.11 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a 12-month low of $247.84 and a 12-month high of $418.50. The firm’s fifty day moving average price is $391.37 and its 200 day moving average price is $357.73. The stock has a market capitalization of $196.07 billion, a PE ratio of 18.83, a P/E/G ratio of 2.01 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the prior year, the business earned $5.52 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were issued a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.39%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

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.