Caterpillar Inc. (NYSE:CAT) Shares Purchased by Home Federal Bank of Tennessee

Home Federal Bank of Tennessee increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 29.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,184 shares of the industrial products company’s stock after purchasing an additional 500 shares during the period. Home Federal Bank of Tennessee’s holdings in Caterpillar were worth $720,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in Caterpillar during the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Caterpillar during the 4th quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new position in Caterpillar during the 4th quarter worth $27,000. Noble Wealth Management PBC purchased a new position in Caterpillar during the 4th quarter worth $31,000. Finally, Investment Management Corp VA ADV purchased a new position in shares of Caterpillar in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Truist Financial reissued a “buy” rating and issued a $396.00 price objective (up from $389.00) on shares of Caterpillar in a research note on Thursday, May 1st. Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an “in-line” rating on the stock in a research note on Monday, May 19th. Wall Street Zen cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Oppenheimer raised shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 price objective on the stock in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $372.92.

Caterpillar Trading Up 1.3%

NYSE CAT opened at $358.12 on Tuesday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The company’s 50 day moving average price is $321.20 and its 200 day moving average price is $349.13. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a market capitalization of $168.69 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.60 EPS. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were issued a $1.41 dividend. The ex-dividend date was Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.57%. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

Insider Activity

In other Caterpillar news, Director David Maclennan acquired 375 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Caterpillar 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.