Community Bank N.A. Decreases Stock Position in Caterpillar Inc. $CAT

Community Bank N.A. lessened its position in Caterpillar Inc. (NYSE:CAT) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,511 shares of the industrial products company’s stock after selling 507 shares during the quarter. Community Bank N.A.’s holdings in Caterpillar were worth $6,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC lifted its position in Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after buying an additional 7,279,991 shares in the last quarter. Pacer Advisors Inc. lifted its position in Caterpillar by 2,723.1% during the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock worth $466,430,000 after buying an additional 1,364,183 shares in the last quarter. Nuveen LLC purchased a new position in Caterpillar during the first quarter worth approximately $391,788,000. Assenagon Asset Management S.A. lifted its position in Caterpillar by 546.6% during the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after buying an additional 712,711 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after buying an additional 268,300 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In related news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on 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 directly owned 6,917 shares of the company’s stock, valued at $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total value of $7,941,849.90. Following the transaction, the chairman directly owned 465,339 shares of the company’s stock, valued at $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of analyst reports. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Robert W. Baird lifted their target price on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Truist Financial lifted their target price on Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a research report on Monday, July 14th. Finally, Barclays lifted their target price on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $488.13.

Caterpillar Trading Up 2.8%

Shares of NYSE CAT opened at $505.11 on Tuesday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $511.50. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The stock has a fifty day simple moving average of $444.65 and a 200-day simple moving average of $385.71. The stock has a market capitalization of $236.64 billion, a PE ratio of 25.69, a PEG ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period in the previous year, the firm posted $5.99 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. Caterpillar’s payout ratio is presently 30.72%.

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.