Peoples Bank OH Sells 247 Shares of Caterpillar Inc. (NYSE:CAT)

Peoples Bank OH cut its stake in Caterpillar Inc. (NYSE:CAT) by 18.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,068 shares of the industrial products company’s stock after selling 247 shares during the period. Peoples Bank OH’s holdings in Caterpillar were worth $418,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar in the second quarter worth about $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $28,000. Fairman Group LLC bought a new position in shares of Caterpillar during the 1st quarter worth approximately $29,000. Fairscale Capital LLC acquired a new stake in Caterpillar in the 2nd quarter valued at $36,000. Finally, POM Investment Strategies LLC grew its position in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 108 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.3 %

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 quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The stock’s 50 day moving average price is $367.72 and its two-hundred day moving average price is $350.86. The firm has a market capitalization of $189.17 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

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

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.46%. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Insider Activity

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CAT shares. JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays raised their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Raymond James assumed coverage on shares of Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Bank of America upped their price objective on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus price target of $355.50.

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.