Caterpillar Inc. (NYSE:CAT) Position Increased by Bangor Savings Bank

Bangor Savings Bank grew its holdings in Caterpillar Inc. (NYSE:CAT) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,226 shares of the industrial products company’s stock after purchasing an additional 57 shares during the period. Bangor Savings Bank’s holdings in Caterpillar were worth $445,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CAT. Capital Performance Advisors LLP purchased a new stake in Caterpillar in the 3rd quarter worth approximately $36,000. Fairscale Capital LLC purchased a new stake in shares of Caterpillar during the second quarter worth $36,000. Kimelman & Baird LLC boosted its position in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in Caterpillar by 47.2% in the third quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 50 shares in the last quarter. Finally, HWG Holdings LP acquired a new position in Caterpillar in the 2nd quarter worth about $54,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAT. Truist Financial lifted their target price on shares of Caterpillar from $454.00 to $471.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Citigroup raised their target price on Caterpillar from $435.00 to $460.00 and gave the company a “buy” rating in a report on Monday, December 9th. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Finally, Jefferies Financial Group boosted their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $384.33.

Caterpillar Stock Down 0.3 %

NYSE CAT opened at $363.24 on Wednesday. Caterpillar Inc. has a twelve month low of $276.94 and a twelve month high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The stock has a market cap of $175.37 billion, a PE ratio of 16.84, a PEG ratio of 1.92 and a beta of 1.13. The firm has a 50-day simple moving average of $383.41 and a 200 day simple moving average of $365.06.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.52 EPS. On average, research analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was purchased at an average cost of $398.57 per share, for a total transaction of $39,857.00. Following the completion of the purchase, the director now directly owns 2,953 shares of the company’s stock, valued at $1,176,977.21. The trade was a 3.51 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the sale, the insider now owns 12,951 shares in the company, valued at $4,906,356.84. This represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,868 shares of company stock valued at $9,679,489 over the last quarter. 0.29% of the stock is owned by company insiders.

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.