Caterpillar Inc. (NYSE:CAT) Holdings Reduced by AMG National Trust Bank

AMG National Trust Bank cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 28.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,593 shares of the industrial products company’s stock after selling 2,619 shares during the period. AMG National Trust Bank’s holdings in Caterpillar were worth $2,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Aljian Capital Management LLC increased its holdings in shares of Caterpillar by 168.7% during the third quarter. Aljian Capital Management LLC now owns 5,911 shares of the industrial products company’s stock valued at $2,312,000 after purchasing an additional 3,711 shares during the period. S&CO Inc. raised its position in shares of Caterpillar by 2.6% during the 3rd quarter. S&CO Inc. now owns 115,744 shares of the industrial products company’s stock worth $45,269,000 after buying an additional 2,940 shares in the last quarter. Claro Advisors LLC lifted its stake in shares of Caterpillar by 8.3% in the 3rd quarter. Claro Advisors LLC now owns 1,754 shares of the industrial products company’s stock worth $686,000 after acquiring an additional 135 shares during the period. Concord Asset Management LLC VA boosted its holdings in shares of Caterpillar by 14.3% in the third quarter. Concord Asset Management LLC VA now owns 6,359 shares of the industrial products company’s stock valued at $2,487,000 after acquiring an additional 795 shares in the last quarter. Finally, Adero Partners LLC increased its stake in shares of Caterpillar by 12.9% during the third quarter. Adero Partners LLC now owns 786 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 90 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the transaction, the director now directly owns 4,976 shares of the company’s stock, valued at $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the company’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 owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,749 shares of company stock worth $9,251,912. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 0.1 %

CAT stock opened at $384.53 on Tuesday. The company has a 50 day moving average of $381.86 and a two-hundred day moving average of $354.37. The company has a market cap of $185.65 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.90 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $241.81 and a 12-month high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data 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). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter in the prior year, the business posted $5.52 earnings per share. Caterpillar’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts anticipate that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. Caterpillar’s payout ratio is 26.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CAT. Robert W. Baird upped their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. UBS Group increased their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Citigroup reduced their price objective on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $365.33.

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.