Bar Harbor Wealth Management Sells 147 Shares of Caterpillar Inc. (NYSE:CAT)

Bar Harbor Wealth Management lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,379 shares of the industrial products company’s stock after selling 147 shares during the quarter. Caterpillar makes up 1.2% of Bar Harbor Wealth Management’s holdings, making the stock its 22nd biggest holding. Bar Harbor Wealth Management’s holdings in Caterpillar were worth $17,913,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings 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 worth $3,987,206,000 after purchasing an additional 67,148 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Caterpillar by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares during the last quarter. Legal & General Group Plc boosted its position in 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 buying an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Caterpillar by 1.8% during the third 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 valued at $1,418,793,000 after acquiring an additional 64,452 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Caterpillar by 0.3% during the third 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 purchasing an additional 8,088 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 3.4 %

Shares of CAT traded up $11.82 during trading hours on Monday, reaching $362.82. The stock had a trading volume of 1,861,479 shares, compared to its average volume of 1,804,275. The company has a market capitalization of $175.17 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 1.92 and a beta of 1.13. The firm has a 50-day simple moving average of $382.16 and a 200 day simple moving average of $365.69. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12 month low of $276.94 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the firm earned $5.52 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is 26.15%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CAT. JPMorgan Chase & Co. increased their price objective on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Morgan Stanley downgraded 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 report on Monday, October 14th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group raised their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Citigroup increased their price objective on shares of Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $384.33.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 6,279 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the transaction, the insider now directly owns 33,565 shares of the company’s stock, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $398.57 per share, with a total value of $39,857.00. Following the acquisition, the director now directly owns 2,953 shares of the company’s stock, valued at $1,176,977.21. The trade was a 3.51 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 23,868 shares of company stock worth $9,679,489 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Company 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.