Kennebec Savings Bank Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

Kennebec Savings Bank cut its stake in Caterpillar Inc. (NYSE:CAT) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,725 shares of the industrial products company’s stock after selling 88 shares during the period. Kennebec Savings Bank’s holdings in Caterpillar were worth $988,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. AA Financial Advisors LLC grew its holdings in Caterpillar by 4.0% in the fourth quarter. AA Financial Advisors LLC now owns 3,740 shares of the industrial products company’s stock worth $1,357,000 after purchasing an additional 144 shares during the period. Evernest Financial Advisors LLC increased its position in Caterpillar by 8.2% during the 4th quarter. Evernest Financial Advisors LLC now owns 4,034 shares of the industrial products company’s stock valued at $1,463,000 after buying an additional 305 shares in the last quarter. Heritage Financial Services LLC raised its stake in Caterpillar by 4.6% during the fourth quarter. Heritage Financial Services LLC now owns 951 shares of the industrial products company’s stock valued at $345,000 after buying an additional 42 shares during the last quarter. Strategic Advocates LLC purchased a new position in Caterpillar in the fourth quarter worth about $222,000. Finally, Sonora Investment Management Group LLC grew its holdings in shares of Caterpillar by 498.6% during the fourth quarter. Sonora Investment Management Group LLC now owns 15,797 shares of the industrial products company’s stock valued at $5,730,000 after buying an additional 13,158 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total value of $543,400.00. Following the transaction, the director now directly owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. The trade was a 20.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,900 shares of company stock worth $13,111,601 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Stock Down 4.4 %

NYSE CAT opened at $375.98 on Friday. The company has a market capitalization of $181.52 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.05 and a beta of 1.13. The stock has a 50 day moving average price of $381.68 and a 200-day moving average price of $370.78. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a one year low of $299.93 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. As a group, equities analysts predict that Caterpillar Inc. will post 21.71 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is currently 26.15%.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Citigroup cut their price objective on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Robert W. Baird raised 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. JPMorgan Chase & Co. raised their target price on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Morgan Stanley lowered their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $382.47.

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.