Caterpillar Inc. (NYSE:CAT) Stake Cut by Ledyard National Bank

Ledyard National Bank lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,674 shares of the industrial products company’s stock after selling 609 shares during the period. Ledyard National Bank’s holdings in Caterpillar were worth $4,598,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Retirement Wealth Solutions LLC acquired a new stake in Caterpillar in the fourth quarter worth $34,000. Capital Performance Advisors LLP bought a new position in Caterpillar in the 3rd quarter valued at about $36,000. Albion Financial Group UT lifted its stake in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the period. Kimelman & Baird LLC boosted its stake in Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC grew its holdings in Caterpillar by 130.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 65 shares during the period. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $365.54 on Friday. The business’s 50 day moving average is $378.20 and its two-hundred day moving average is $371.22. The company has a market cap of $176.48 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.95 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities analysts expect that Caterpillar Inc. will post 21.45 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is 25.56%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the completion of the transaction, the insider now owns 33,565 shares of the company’s stock, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. DA Davidson lifted their price target on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America decreased their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Truist Financial cut their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $383.13.

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.