Caterpillar Inc. (NYSE:CAT) Shares Sold by Farmers National Bank

Farmers National Bank decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,878 shares of the industrial products company’s stock after selling 104 shares during the period. Farmers National Bank’s holdings in Caterpillar were worth $959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC increased its holdings in shares of 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 purchasing an additional 1,327 shares during the period. Diversify Advisory Services LLC purchased a new position in Caterpillar during the 1st quarter worth $926,000. Natixis Advisors LLC lifted its stake in shares of Caterpillar by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after acquiring an additional 9,321 shares during the period. Bailard Inc. boosted its holdings in shares of Caterpillar by 3.1% in the second quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock valued at $4,475,000 after acquiring an additional 398 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of Caterpillar during the first quarter worth about $15,009,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $392.40 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $397.22. The business has a fifty day moving average of $348.50 and a 200-day moving average of $347.14. The stock has a market cap of $191.90 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the previous year, the company posted $5.55 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on CAT. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America upped their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday. Citigroup initiated coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. Barclays upped their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $339.94.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’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 sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 7,668 shares of company stock valued at $2,665,760. Company insiders own 0.33% of the company’s stock.

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.