Home Federal Bank of Tennessee Sells 100 Shares of Caterpillar Inc. (NYSE:CAT)

Home Federal Bank of Tennessee lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,709 shares of the industrial products company’s stock after selling 100 shares during the period. Home Federal Bank of Tennessee’s holdings in Caterpillar were worth $626,000 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 the company. Southland Equity Partners LLC lifted its holdings in Caterpillar by 4.0% during the 1st quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after buying an additional 30 shares during the period. Davis Investment Partners LLC lifted its holdings in Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after buying an additional 30 shares during the period. McIlrath & Eck LLC lifted its holdings in Caterpillar by 4.4% during the 4th quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock worth $233,000 after buying an additional 33 shares during the period. Versant Capital Management Inc lifted its holdings in Caterpillar by 7.4% during the 1st quarter. Versant Capital Management Inc now owns 480 shares of the industrial products company’s stock worth $176,000 after buying an additional 33 shares during the period. Finally, Lodestar Private Asset Management LLC lifted its holdings in Caterpillar by 4.4% during the 4th quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock worth $245,000 after buying an additional 35 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the acquisition, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Caterpillar news, Director David Maclennan bought 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the acquisition, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 1.7 %

CAT traded up $5.64 during midday trading on Friday, reaching $333.10. 8,891,479 shares of the company were exchanged, compared to its average volume of 3,519,845. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The company’s fifty day moving average price is $340.31 and its 200 day moving average price is $329.04. The company has a market cap of $162.90 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, analysts expect that Caterpillar Inc. will post 21.84 EPS for the current year.

Caterpillar declared that its board has approved a stock repurchase plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s payout ratio is currently 25.46%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup assumed coverage on Caterpillar in a report on Wednesday. They set a “buy” rating and a $380.00 target price on the stock. Truist Financial assumed coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. TD Cowen boosted their price objective on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and boosted their price objective for the company from $293.00 to $350.00 in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus price target of $329.63.

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.