Greenfield Savings Bank Decreases Stake in Caterpillar Inc. (NYSE:CAT)

Greenfield Savings Bank trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,489 shares of the industrial products company’s stock after selling 55 shares during the period. Caterpillar comprises approximately 1.1% of Greenfield Savings Bank’s holdings, making the stock its 24th largest holding. Greenfield Savings Bank’s holdings in Caterpillar were worth $2,354,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CAT. Geode Capital Management LLC lifted its position in shares of Caterpillar by 0.7% during the third 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 during the last quarter. Fisher Asset Management LLC lifted its holdings in Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after buying an additional 205,012 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Caterpillar by 1.8% during 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 valued at $1,418,793,000 after acquiring an additional 64,452 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

NYSE CAT opened at $362.82 on Tuesday. The stock’s 50-day moving average price is $381.88 and its two-hundred day moving average price is $365.94. The company has a market cap of $175.17 billion, a PE ratio of 16.82, a PEG ratio of 1.88 and a beta of 1.10. 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 1 year low of $276.94 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT) last posted 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). The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.52 earnings per share. On average, analysts predict that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

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

Insider Activity

In related news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares in the company, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares in the company, valued at approximately $4,906,356.84. This represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock worth $9,679,489 in the last 90 days. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

CAT has been the topic of a number of research reports. Jefferies Financial Group increased their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 target price for the company in a report on Monday. JPMorgan Chase & Co. boosted their price objective on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Bank of America boosted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Truist Financial lifted their price objective on shares of Caterpillar from $454.00 to $471.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $384.33.

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.