Harbour Trust & Investment Management Co Has $719,000 Holdings in Caterpillar Inc. (NYSE:CAT)

Harbour Trust & Investment Management Co trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6.2% during the third quarter, HoldingsChannel reports. The fund owned 1,839 shares of the industrial products company’s stock after selling 122 shares during the period. Harbour Trust & Investment Management Co’s holdings in Caterpillar were worth $719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar during the 2nd quarter worth approximately $28,000. Fairman Group LLC bought a new position in shares of Caterpillar during the 1st quarter worth approximately $29,000. Fairscale Capital LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC boosted its holdings 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 purchasing an additional 108 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Up 0.3 %

Shares of CAT stock opened at $386.81 on Friday. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The company has a market capitalization of $189.17 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The firm has a 50 day moving average price of $367.72 and a two-hundred day moving average price of $350.86. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

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 the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.55 EPS. As a group, analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s dividend payout ratio is 25.46%.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CAT. Citigroup boosted their price target on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group increased their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Evercore ISI lowered their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $355.50.

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.