Harbor Group Inc. Has $1.76 Million Stake in Caterpillar Inc. (NYSE:CAT)

Harbor Group Inc. lessened its position in Caterpillar Inc. (NYSE:CAT) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,856 shares of the industrial products company’s stock after selling 100 shares during the quarter. Caterpillar comprises about 0.4% of Harbor Group Inc.’s investment portfolio, making the stock its 28th biggest position. Harbor Group Inc.’s holdings in Caterpillar were worth $1,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC grew its position in Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 26 shares during the period. First Bank & Trust lifted its position in Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after buying an additional 27 shares in the last quarter. Washington Trust Bank increased its position in Caterpillar by 1.2% in the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock valued at $919,000 after acquiring an additional 27 shares in the last quarter. Pacifica Partners Inc. raised its stake in shares of Caterpillar by 1.6% in the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after acquiring an additional 28 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors increased its stake in shares of Caterpillar by 0.8% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lange Bob De sold 12,657 shares of Caterpillar stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,868 shares of company stock worth $9,679,489. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CAT shares. Evercore ISI upgraded Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target on the stock in a report on Monday. Truist Financial reduced their price objective on Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a report on Thursday. Bank of America boosted their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group increased their price objective on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $349.00 to $332.00 in a research report on Monday, October 14th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $380.60.

Caterpillar Price Performance

Caterpillar stock opened at $380.85 on Friday. The business has a 50-day simple moving average of $380.24 and a 200 day simple moving average of $366.36. Caterpillar Inc. has a 52 week low of $276.94 and a 52 week high of $418.50. The stock has a market cap of $183.87 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.72 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (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 company had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the previous year, the firm earned $5.52 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, research analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 1.48%. Caterpillar’s payout ratio is currently 26.15%.

About Caterpillar

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.