Chevy Chase Trust Holdings LLC Has $104.25 Million Stake in Caterpillar Inc. (NYSE:CAT)

Chevy Chase Trust Holdings LLC decreased its position in Caterpillar Inc. (NYSE:CAT) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 266,535 shares of the industrial products company’s stock after selling 7,249 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Caterpillar were worth $104,247,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC increased its position in shares of Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after acquiring an additional 26 shares during the last quarter. First Bank & Trust grew its stake in Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 27 shares in the last quarter. Washington Trust Bank increased its position in shares of Caterpillar by 1.2% during the 3rd quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 27 shares during the last quarter. Pacifica Partners Inc. raised its stake in shares of Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after purchasing an additional 28 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors boosted its holdings in shares of Caterpillar by 0.8% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after buying an additional 28 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CAT. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. UBS Group lifted their price target on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Citigroup reduced their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $365.33.

Caterpillar Stock Performance

NYSE CAT opened at $406.11 on Monday. The firm has a 50-day moving average price of $391.37 and a two-hundred day moving average price of $357.73. Caterpillar Inc. has a 12-month low of $247.84 and a 12-month high of $418.50. The company has a market capitalization of $196.07 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.01 and a beta of 1.10. 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 issued 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). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter last year, the firm posted $5.52 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts anticipate that Caterpillar Inc. will post 21.67 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Insider Buying and Selling

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction on 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 in the company, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,589 shares of company stock valued at $7,113,953 over the last quarter. 0.29% of the stock is owned by company insiders.

Caterpillar Company 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.