Community Bank N.A. Sells 507 Shares of Caterpillar Inc. $CAT

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

Other hedge funds also recently added to or reduced their stakes in the company. Compass Financial Services Inc increased its position in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar during the 2nd quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new stake in Caterpillar during the 1st quarter valued at about $33,000. Total Wealth Planning & Management Inc. purchased a new stake in Caterpillar during the 2nd quarter valued at about $38,000. Finally, Fiduciary Wealth Partners LLC purchased a new stake in Caterpillar during the 1st quarter valued at about $45,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAT has been the topic of several research analyst reports. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a research note on Tuesday, August 19th. Oppenheimer boosted their price target on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Barclays upped their target price on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Bank of America upped their target price on Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $488.13.

Insider Buying and Selling

In related news, 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 value 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 represents a 25.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 3.44% 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 valued at $16,885,492. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

NYSE CAT opened at $505.11 on Tuesday. The stock has a market capitalization of $236.64 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.01 and a beta of 1.46. 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 50-day moving average of $444.65 and a 200 day moving average of $385.71.

Caterpillar (NYSE:CAT) last released its quarterly earnings results 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). The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.99 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued 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 yield of 1.2%. Caterpillar’s dividend payout ratio is presently 30.72%.

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.