Caterpillar Inc. (NYSE:CAT) Shares Sold by 1ST Source Bank

1ST Source Bank cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,282 shares of the industrial products company’s stock after selling 665 shares during the quarter. 1ST Source Bank’s holdings in Caterpillar were worth $3,630,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC increased its position in shares of Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after buying an additional 26 shares in the last quarter. First Bank & Trust grew its position in shares of Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 27 shares during the period. Washington Trust Bank raised its position in shares of Caterpillar by 1.2% during the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 27 shares during the last quarter. Pacifica Partners Inc. boosted its holdings in Caterpillar by 1.6% in the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors raised its holdings in shares of Caterpillar by 0.8% during the third quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is currently owned by company insiders.

Caterpillar Trading Down 0.0 %

NYSE:CAT traded down $0.06 during trading hours on Friday, reaching $380.72. 431,376 shares of the stock were exchanged, compared to its average volume of 2,546,406. 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 company has a market capitalization of $183.81 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.92 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $270.55 and a twelve month high of $418.50. The business has a 50-day moving average of $392.83 and a two-hundred day moving average of $360.00.

Caterpillar (NYSE:CAT) last released its earnings results 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 analyst estimates of $16.37 billion. During the same period in the prior year, the firm earned $5.52 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Analyst Ratings Changes

Several analysts recently commented on CAT shares. Jefferies Financial Group boosted their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Robert W. Baird boosted their price target on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Truist Financial increased their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday. Finally, StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Tuesday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $374.69.

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.