Caterpillar Inc. $CAT Stock Position Lowered by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown lessened its position in Caterpillar Inc. (NYSE:CAT) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,152 shares of the industrial products company’s stock after selling 70 shares during the quarter. Caterpillar makes up about 0.7% of First National Bank & Trust Co. of Newtown’s holdings, making the stock its 23rd biggest holding. First National Bank & Trust Co. of Newtown’s holdings in Caterpillar were worth $3,553,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Compass Financial Services Inc grew its stake in Caterpillar by 49.2% in 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 during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar in the 2nd quarter valued at $32,000. Curat Global LLC acquired a new position in Caterpillar in the 1st quarter valued at $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar in the 1st quarter valued at $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new stake in Caterpillar in the 1st quarter worth $45,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CAT. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Robert W. Baird lifted their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Truist Financial lifted their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Bank of America boosted their target price on shares of 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, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $466.53.

Caterpillar Stock Performance

Shares of CAT opened at $480.99 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm’s 50 day moving average price is $434.48 and its two-hundred day moving average price is $376.35. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $485.34. The firm has a market cap of $225.33 billion, a P/E ratio of 24.47, a PEG ratio of 2.90 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same period last year, the company posted $5.99 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman owned 465,339 shares in the company, valued at $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.