Country Trust Bank Sells 102 Shares of Caterpillar Inc. (NYSE:CAT)

Country Trust Bank cut its position in Caterpillar Inc. (NYSE:CAT) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,780 shares of the industrial products company’s stock after selling 102 shares during the quarter. Country Trust Bank’s holdings in Caterpillar were worth $36,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its position in Caterpillar by 306.9% during the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after buying an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after buying an additional 266,969 shares in the last quarter. Swedbank AB bought a new position in Caterpillar in the first quarter valued at about $97,042,000. Capital International Investors raised its stake in Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after acquiring an additional 244,253 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after acquiring an additional 200,134 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the company’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 directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 7,668 shares of company stock worth $2,665,760. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Raymond James assumed coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Citigroup assumed coverage on Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. Finally, Truist Financial reissued a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $339.94.

Caterpillar Stock Down 2.6 %

CAT stock opened at $387.90 on Wednesday. The stock’s 50 day simple moving average is $352.59 and its 200 day simple moving average is $348.22. The company has a market cap of $189.70 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $401.17.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.55 earnings per share. On average, research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Caterpillar 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.