Caterpillar Inc. (NYSE:CAT) Shares Sold by Iowa State Bank

Iowa State Bank trimmed its position in Caterpillar Inc. (NYSE:CAT) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,706 shares of the industrial products company’s stock after selling 120 shares during the period. Iowa State Bank’s holdings in Caterpillar were worth $4,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its holdings in Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after purchasing an additional 307,479 shares during the last quarter. Altshuler Shaham Ltd boosted its holdings in Caterpillar by 3,319.7% in the second quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock valued at $91,606,000 after purchasing an additional 266,969 shares during the last quarter. Swedbank AB purchased a new stake in Caterpillar in the first quarter valued at $97,042,000. Capital International Investors boosted its holdings in Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after purchasing an additional 244,253 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Caterpillar by 104.6% in the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock valued at $128,768,000 after purchasing an additional 200,134 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. This trade represents 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. Also, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by company insiders.

Caterpillar Trading Up 1.4 %

CAT opened at $402.16 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The company’s 50 day simple moving average is $355.82 and its two-hundred day simple moving average is $349.10. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The firm has a market capitalization of $196.68 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. During the same period last year, the company posted $5.55 EPS. The business’s revenue was down 3.6% on a year-over-year basis. Analysts expect that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s payout ratio is presently 25.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CAT shares. Evercore ISI lowered their price target on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Barclays increased their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Truist Financial increased their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and a consensus price target of $347.56.

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.