Sageworth Trust Co Sells 104 Shares of Caterpillar Inc. (NYSE:CAT)

Sageworth Trust Co lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 710 shares of the industrial products company’s stock after selling 104 shares during the quarter. Sageworth Trust Co’s holdings in Caterpillar were worth $278,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Legal & General Group Plc grew its stake in Caterpillar by 2.0% in the second 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 purchasing an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Caterpillar by 5.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares during the period. International Assets Investment Management LLC raised its stake in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after buying an additional 2,131,276 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after acquiring an additional 198,123 shares during the period. Finally, Capital Research Global Investors lifted its holdings in Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after purchasing an additional 119,326 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Evercore ISI dropped their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Truist Financial lifted their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. UBS Group raised their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $355.50.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar 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 directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Trading Down 0.3 %

NYSE:CAT traded down $1.09 during mid-day trading on Friday, hitting $385.97. 1,606,883 shares of the company’s stock were exchanged, compared to its average volume of 2,622,578. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The company has a 50 day simple moving average of $368.57 and a 200-day simple moving average of $350.95. The firm has a market capitalization of $188.76 billion, a P/E ratio of 17.42, a PEG ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the prior year, the business posted $5.55 earnings per share. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is currently 25.46%.

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.