Citizens Business Bank Sells 429 Shares of Caterpillar Inc. (NYSE:CAT)

Citizens Business Bank reduced its position in Caterpillar Inc. (NYSE:CAT) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,556 shares of the industrial products company’s stock after selling 429 shares during the period. Citizens Business Bank’s holdings in Caterpillar were worth $609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lantz Financial LLC boosted its stake in Caterpillar by 2.9% during the 2nd quarter. Lantz Financial LLC now owns 4,181 shares of the industrial products company’s stock valued at $1,393,000 after purchasing an additional 116 shares during the last quarter. Corundum Group Inc. grew its holdings in Caterpillar by 187.6% during the second quarter. Corundum Group Inc. now owns 5,649 shares of the industrial products company’s stock worth $1,882,000 after buying an additional 3,685 shares in the last quarter. High Net Worth Advisory Group LLC raised its position in Caterpillar by 7.9% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 3,902 shares of the industrial products company’s stock valued at $1,300,000 after buying an additional 285 shares during the last quarter. Red Door Wealth Management LLC lifted its stake in Caterpillar by 2.4% during the 2nd quarter. Red Door Wealth Management LLC now owns 1,793 shares of the industrial products company’s stock valued at $597,000 after acquiring an additional 42 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC boosted its holdings in Caterpillar by 2,753.4% during the second quarter. Blackston Financial Advisory Group LLC now owns 15,009 shares of the industrial products company’s stock worth $5,000,000 after purchasing an additional 14,483 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 2.7 %

CAT opened at $388.44 on Wednesday. The company has a 50 day moving average of $393.01 and a 200 day moving average of $359.52. The company has a market cap of $187.54 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. Caterpillar Inc. has a 12 month low of $259.12 and a 12 month high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the business earned $5.52 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts expect that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.45%. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the sale, the insider now owns 12,951 shares in the company, valued at $4,906,356.84. The trade was a 17.06 % 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 three months. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Robert W. Baird lifted their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Bank of America upped their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $374.69.

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.