Advantage Trust Co Cuts Holdings in Caterpillar Inc. (NYSE:CAT)

Advantage Trust Co reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 29.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 660 shares of the industrial products company’s stock after selling 270 shares during the quarter. Advantage Trust Co’s holdings in Caterpillar were worth $258,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CAT. Stockman Wealth Management Inc. lifted its position in shares of Caterpillar by 2.7% during the third quarter. Stockman Wealth Management Inc. now owns 36,980 shares of the industrial products company’s stock worth $14,464,000 after purchasing an additional 965 shares in the last quarter. Meritage Portfolio Management purchased a new position in Caterpillar in the 3rd quarter valued at about $242,000. Crossmark Global Holdings Inc. grew its stake in shares of Caterpillar by 3.9% during the third quarter. Crossmark Global Holdings Inc. now owns 47,570 shares of the industrial products company’s stock valued at $18,606,000 after acquiring an additional 1,787 shares in the last quarter. Tyler Stone Wealth Management lifted its stake in shares of Caterpillar by 139.3% in the third quarter. Tyler Stone Wealth Management now owns 2,206 shares of the industrial products company’s stock worth $863,000 after acquiring an additional 1,284 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in Caterpillar by 2.3% in the third quarter. Baker Avenue Asset Management LP now owns 50,935 shares of the industrial products company’s stock valued at $19,922,000 after purchasing an additional 1,157 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent analyst reports. Citigroup dropped their price target on Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Evercore ISI dropped their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. UBS Group increased their price target on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $362.40.

Caterpillar Price Performance

Shares of CAT stock traded down $14.84 during trading hours on Friday, hitting $393.37. The company had a trading volume of 3,345,862 shares, compared to its average volume of 2,292,855. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm’s fifty day moving average is $376.80 and its 200 day moving average is $352.75. Caterpillar Inc. has a 12 month low of $233.82 and a 12 month high of $418.50. The firm has a market capitalization of $190.75 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.06 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.52 earnings per share. On average, sell-side analysts predict that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.43%. Caterpillar’s payout ratio is presently 26.15%.

Insider Activity

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,749 shares of company stock valued at $9,251,912. 0.29% of the stock is owned by company insiders.

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.