Mitchell Mcleod Pugh & Williams Inc. Trims Holdings in Caterpillar Inc. (NYSE:CAT)

Mitchell Mcleod Pugh & Williams Inc. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 0.4% in the third quarter, HoldingsChannel reports. The fund owned 10,269 shares of the industrial products company’s stock after selling 45 shares during the period. Caterpillar accounts for 0.8% of Mitchell Mcleod Pugh & Williams Inc.’s portfolio, making the stock its 26th biggest holding. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Caterpillar were worth $4,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Bbjs Financial Advisors LLC bought a new position in Caterpillar during the 2nd quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the second quarter valued at $28,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar in the 2nd quarter worth about $36,000. Capital Performance Advisors LLP bought a new position in Caterpillar in the 3rd quarter worth about $36,000. Finally, POM Investment Strategies LLC grew its position in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Bank of America increased their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial increased their price objective on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird boosted their target price on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, UBS Group raised their price target on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $362.40.

Caterpillar Stock Performance

CAT traded down $14.84 during midday trading on Friday, reaching $393.37. The company had a trading volume of 3,345,862 shares, compared to its average volume of 2,292,855. Caterpillar Inc. has a 1 year low of $233.82 and a 1 year high of $418.50. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a market cap of $190.75 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.06 and a beta of 1.10. The business has a 50-day moving average of $376.80 and a two-hundred day moving average of $352.75.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results 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). The firm had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.52 EPS. As a group, equities research analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. Caterpillar’s payout ratio is presently 26.15%.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock valued at $9,251,912 over the last 90 days. Company insiders own 0.29% 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.