Caterpillar Inc. (NYSE:CAT) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,087 shares of the industrial products company’s stock after selling 148 shares during the quarter. Caterpillar accounts for approximately 1.1% of Adirondack Trust Co.’s portfolio, making the stock its 21st largest holding. Adirondack Trust Co.’s holdings in Caterpillar were worth $2,934,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CAT. Geode Capital Management LLC grew its stake in Caterpillar by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock valued at $3,987,206,000 after acquiring an additional 67,148 shares during the period. Fisher Asset Management LLC increased its stake in shares of Caterpillar by 2.3% during the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares in the last quarter. Legal & General Group Plc raised its position in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Caterpillar by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock worth $1,418,793,000 after buying an additional 64,452 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Caterpillar by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after buying an additional 8,088 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

NYSE:CAT opened at $397.68 on Thursday. The firm’s fifty day simple moving average is $379.99 and its 200-day simple moving average is $368.17. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a market cap of $192.00 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a fifty-two week low of $287.52 and a fifty-two week high of $418.50.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period last year, the business posted $5.52 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 annualized dividend and a yield of 1.42%. Caterpillar’s dividend payout ratio is presently 26.15%.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of research reports. Truist Financial decreased their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Jefferies Financial Group upped their price target on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $380.60.

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. This trade represents a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is owned by corporate insiders.

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.