Busey Bank Trims Stake in Caterpillar Inc. (NYSE:CAT)

Busey Bank lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 1.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,006 shares of the industrial products company’s stock after selling 957 shares during the quarter. Caterpillar comprises 1.1% of Busey Bank’s investment portfolio, making the stock its 20th biggest holding. Busey Bank’s holdings in Caterpillar were worth $34,030,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC grew its holdings in shares of Caterpillar by 1,041.4% during the first quarter. Atlas Capital Advisors LLC now owns 331 shares of the industrial products company’s stock worth $121,000 after buying an additional 302 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in shares of Caterpillar by 38.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 3,151 shares of the industrial products company’s stock valued at $1,155,000 after purchasing an additional 883 shares during the last quarter. OneAscent Wealth Management LLC increased its holdings in shares of Caterpillar by 71.6% in the first quarter. OneAscent Wealth Management LLC now owns 1,955 shares of the industrial products company’s stock valued at $716,000 after purchasing an additional 816 shares during the period. Webster Bank N. A. raised its stake in shares of Caterpillar by 0.4% during the first quarter. Webster Bank N. A. now owns 14,619 shares of the industrial products company’s stock worth $5,357,000 after purchasing an additional 56 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC acquired a new stake in shares of Caterpillar during the first quarter worth $327,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $386.81 on Friday. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $403.60. The company has a market capitalization of $189.17 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The firm has a 50-day moving average price of $367.72 and a two-hundred day moving average price of $350.86.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period last year, the company posted $5.55 EPS. The company’s revenue was down 3.6% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.46%. Caterpillar’s dividend payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Truist Financial increased their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays increased their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $355.50.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This 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. In other news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

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.