AMG National Trust Bank Sells 2,619 Shares of Caterpillar Inc. (NYSE:CAT)

AMG National Trust Bank trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 28.4% in the third quarter, Holdings Channel reports. The fund owned 6,593 shares of the industrial products company’s stock after selling 2,619 shares during the quarter. AMG National Trust Bank’s holdings in Caterpillar were worth $2,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. Bbjs Financial Advisors LLC bought a new position in Caterpillar in the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar during the 2nd quarter valued at $28,000. Capital Performance Advisors LLP bought a new stake in Caterpillar in the 3rd quarter valued at $36,000. Fairscale Capital LLC bought a new position in shares of Caterpillar during the 2nd quarter worth about $36,000. Finally, POM Investment Strategies LLC raised its position in shares of Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after buying an additional 108 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Caterpillar

In related news, CAO William E. Schaupp sold 968 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The trade was a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 23,749 shares of company stock worth $9,251,912 over the last ninety days. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CAT. Barclays upped their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. Robert W. Baird lifted their price target on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Citigroup dropped their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, UBS Group upped their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average price target of $365.33.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $384.53 on Tuesday. The business has a fifty day moving average of $381.86 and a 200-day moving average of $354.37. 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 twelve month low of $241.81 and a twelve month high of $418.50. The firm has a market cap of $185.65 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted 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 net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion during the quarter, compared to analyst estimates of $16.37 billion. During the same quarter in the previous year, the business posted $5.52 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 21.68 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

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.