First National Bank & Trust Co. of Newtown Reduces Holdings in Caterpillar Inc. $CAT

First National Bank & Trust Co. of Newtown decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,152 shares of the industrial products company’s stock after selling 70 shares during the quarter. Caterpillar makes up about 0.7% of First National Bank & Trust Co. of Newtown’s holdings, making the stock its 23rd largest position. First National Bank & Trust Co. of Newtown’s holdings in Caterpillar were worth $3,553,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CAT. Family Legacy Financial Solutions LLC purchased a new position in shares of Caterpillar during the second quarter worth about $32,000. Compass Financial Services Inc grew its holdings in shares of Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares during the last quarter. Curat Global LLC purchased a new position in shares of Caterpillar during the first quarter worth about $33,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar in the first quarter valued at about $33,000. Finally, Maseco LLP acquired a new stake in Caterpillar in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $480.99 on Thursday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $485.34. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The company has a market cap of $225.33 billion, a PE ratio of 24.47, a P/E/G ratio of 2.90 and a beta of 1.46. The firm has a 50-day simple moving average of $434.48 and a 200 day simple moving average of $376.35.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter last year, the company posted $5.99 EPS. Caterpillar’s revenue for the quarter was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of research reports. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Truist Financial boosted their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Robert W. Baird boosted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and a consensus price target of $466.53.

Insiders Place Their Bets

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,819 shares of company stock worth $16,885,492. Insiders own 0.33% 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.