Caterpillar Inc. (NYSE:CAT) Shares Sold by Smithfield Trust Co

Smithfield Trust Co reduced its stake in Caterpillar Inc. (NYSE:CAT) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,112 shares of the industrial products company’s stock after selling 35 shares during the period. Smithfield Trust Co’s holdings in Caterpillar were worth $1,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in Caterpillar by 17.2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares during the period. Alpha Cubed Investments LLC raised its holdings in shares of Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after buying an additional 6,212 shares during the last quarter. First Affirmative Financial Network bought a new stake in shares of Caterpillar during the third quarter valued at approximately $204,000. Inspire Advisors LLC raised its holdings in shares of Caterpillar by 25.8% during the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after buying an additional 1,694 shares during the last quarter. Finally, Jackson Square Capital LLC raised its holdings in shares of Caterpillar by 33.7% during the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after buying an additional 4,182 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.8 %

Caterpillar stock opened at $384.66 on Thursday. The firm has a market cap of $185.71 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.89 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The firm has a fifty day moving average price of $384.76 and a two-hundred day moving average price of $355.22.

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 analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.52 EPS. As a group, analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Analysts Set New Price Targets

CAT has been the topic of a number of recent analyst reports. Barclays lifted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup dropped their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Truist Financial boosted their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $365.33.

Insider Activity

In related news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 71,107 shares of the company’s stock, valued at $29,171,646.75. The trade was a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were 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 directly owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,774 shares of company stock valued at $8,233,034. Insiders own 0.29% of the company’s stock.

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.