Caterpillar Inc. (NYSE:CAT) Position Cut by Citizens National Bank Trust Department

Citizens National Bank Trust Department lessened its position in Caterpillar Inc. (NYSE:CAT) by 0.3% during the third quarter, Holdings Channel reports. The fund owned 21,598 shares of the industrial products company’s stock after selling 75 shares during the quarter. Caterpillar comprises approximately 1.8% of Citizens National Bank Trust Department’s investment portfolio, making the stock its 14th largest position. Citizens National Bank Trust Department’s holdings in Caterpillar were worth $8,447,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Fairscale Capital LLC acquired a new stake in Caterpillar in the 2nd quarter valued at approximately $36,000. POM Investment Strategies LLC raised its stake in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares in the last quarter. Finally, TruNorth Capital Management LLC boosted its position in Caterpillar by 215.4% during the 2nd quarter. TruNorth Capital Management LLC now owns 123 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 84 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

CAT stock opened at $379.63 on Monday. Caterpillar Inc. has a one year low of $232.88 and a one year high of $403.60. The firm has a 50-day moving average of $372.40 and a two-hundred day moving average of $351.32. The firm has a market capitalization of $184.08 billion, a PE ratio of 17.60, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.78 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last issued its quarterly 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 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 analysts’ expectations of $16.37 billion. During the same quarter last year, the company posted $5.52 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.49%. Caterpillar’s dividend payout ratio is 26.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CAT shares. Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup dropped their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $357.56.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the company’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 completion of the transaction, 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 disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

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.