Mitchell Mcleod Pugh & Williams Inc. Sells 792 Shares of Caterpillar Inc. (NYSE:CAT)

Mitchell Mcleod Pugh & Williams Inc. cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,477 shares of the industrial products company’s stock after selling 792 shares during the quarter. Caterpillar comprises about 0.7% of Mitchell Mcleod Pugh & Williams Inc.’s holdings, making the stock its 27th largest position. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Caterpillar were worth $3,438,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CAT. Smallwood Wealth Investment Management LLC lifted its stake in Caterpillar by 2.6% in the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after buying an additional 26 shares during the period. First Bank & Trust lifted its position in shares of Caterpillar by 4.0% during the 3rd quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 27 shares during the period. Washington Trust Bank boosted its stake in Caterpillar by 1.2% during the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after acquiring an additional 27 shares in the last quarter. Channel Wealth LLC grew its holdings in Caterpillar by 1.9% in the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after purchasing an additional 27 shares during the period. Finally, Pacifica Partners Inc. increased its stake in Caterpillar by 1.6% in the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after purchasing an additional 28 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CAT. Robert W. Baird increased their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Truist Financial cut their price target on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup decreased their price objective on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI raised shares of Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price target for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $380.60.

Insiders Place Their Bets

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,868 shares of company stock valued at $13,480,389. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Shares of CAT opened at $386.03 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $380.09 and a 200-day moving average price of $367.29. The company has a market cap of $186.38 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13. Caterpillar Inc. has a 12-month low of $277.66 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the company earned $5.52 EPS. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

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.