Field & Main Bank Sells 41 Shares of Caterpillar Inc. $CAT

Field & Main Bank trimmed its position in Caterpillar Inc. (NYSE:CAT) by 0.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,816 shares of the industrial products company’s stock after selling 41 shares during the quarter. Field & Main Bank’s holdings in Caterpillar were worth $3,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Aire Advisors LLC lifted its position in shares of Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after buying an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its holdings in shares of Caterpillar by 0.5% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after acquiring an additional 25 shares during the last quarter. GSB Wealth Management LLC grew its stake in shares of Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after buying an additional 26 shares during the last quarter. Verum Partners LLC increased its stake in Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after purchasing an additional 26 shares during the period. Finally, Vanguard Capital Wealth Advisors lifted its holdings in Caterpillar by 0.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after buying an additional 27 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total value of $8,673,808.14. Following the completion of the transaction, the chairman directly owned 448,173 shares in the company, valued at $226,457,335.17. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 55,985 shares of company stock worth $25,559,300 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer upped their price objective on shares of Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. upped their target price on Caterpillar from $505.00 to $650.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Bank of America lifted their price objective on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Truist Financial upped their price target on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $518.19.

Caterpillar Stock Up 11.9%

Caterpillar stock opened at $586.77 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The stock has a market cap of $274.89 billion, a PE ratio of 29.85, a P/E/G ratio of 2.99 and a beta of 1.46. The stock’s fifty day moving average is $472.25 and its two-hundred day moving average is $405.20.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.43. The business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.17 earnings per share. On average, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.0%. Caterpillar’s dividend payout ratio is currently 30.72%.

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.