Caterpillar Inc. (NYSE:CAT) Shares Sold by First County Bank CT

First County Bank CT trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,215 shares of the industrial products company’s stock after selling 57 shares during the quarter. First County Bank CT’s holdings in Caterpillar were worth $1,649,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alpha Cubed Investments LLC boosted its position in shares of Caterpillar by 5.6% in the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after buying an additional 6,212 shares during the period. First Affirmative Financial Network acquired a new position in Caterpillar during the 3rd quarter worth approximately $204,000. Inspire Advisors LLC boosted its holdings in Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock worth $3,233,000 after acquiring an additional 1,694 shares during the period. Jackson Square Capital LLC grew its position in Caterpillar by 33.7% in the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after acquiring an additional 4,182 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Caterpillar by 3.5% during the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after purchasing an additional 9,321 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,774 shares of company stock valued at $8,233,034 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $390.26 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The company has a market cap of $188.42 billion, a P/E ratio of 18.09, a PEG ratio of 1.89 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $241.81 and a 12 month high of $418.50. The stock has a fifty day moving average price of $385.77 and a 200 day moving average price of $355.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the business earned $5.52 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, research analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Truist Financial lifted 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. Citigroup lowered their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, UBS Group lifted their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average price target of $365.33.

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.