CNB Bank Has $2.15 Million Stake in Caterpillar Inc. (NYSE:CAT)

CNB Bank increased its stake in Caterpillar Inc. (NYSE:CAT) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,921 shares of the industrial products company’s stock after acquiring an additional 134 shares during the period. Caterpillar comprises 1.0% of CNB Bank’s investment portfolio, making the stock its 22nd biggest position. CNB Bank’s holdings in Caterpillar were worth $2,148,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Saxon Interests Inc. raised its position in shares of Caterpillar by 3.3% during the fourth quarter. Saxon Interests Inc. now owns 3,291 shares of the industrial products company’s stock worth $1,194,000 after acquiring an additional 105 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Caterpillar by 1.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 14,830 shares of the industrial products company’s stock worth $5,380,000 after purchasing an additional 214 shares during the last quarter. Everpar Advisors LLC lifted its position in Caterpillar by 12.1% during the 4th quarter. Everpar Advisors LLC now owns 1,680 shares of the industrial products company’s stock valued at $609,000 after purchasing an additional 181 shares during the period. RDA Financial Network boosted its stake in shares of Caterpillar by 5.7% in the 4th quarter. RDA Financial Network now owns 2,947 shares of the industrial products company’s stock valued at $1,069,000 after purchasing an additional 158 shares during the last quarter. Finally, First Pacific Financial grew its position in shares of Caterpillar by 128.3% during the 4th quarter. First Pacific Financial now owns 1,402 shares of the industrial products company’s stock worth $509,000 after buying an additional 788 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CAT. Truist Financial reduced their price objective on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America raised their price target on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Friday. Citigroup reduced their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $380.60.

Insider Activity at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the sale, the insider now directly owns 12,951 shares in the company, valued at approximately $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,868 shares of company stock valued at $9,679,489 in the last quarter. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 1.3 %

Shares of CAT opened at $385.33 on Friday. The firm has a 50 day simple moving average of $380.24 and a two-hundred day simple moving average of $366.36. The company has a market cap of $186.03 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.72 and a beta of 1.13. Caterpillar Inc. has a one year low of $277.66 and a one year high of $418.50. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share 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 business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the prior year, the company earned $5.52 earnings per share. Caterpillar’s quarterly revenue was down 4.2% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

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.