AMG National Trust Bank Sells 2,619 Shares of Caterpillar Inc. (NYSE:CAT)

AMG National Trust Bank lowered its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 28.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,593 shares of the industrial products company's stock after selling 2,619 shares during the quarter. AMG National Trust Bank's holdings in Caterpillar were worth $2,579,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CAT. International Assets Investment Management LLC boosted its position in shares of Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company's stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Caterpillar by 306.9% during 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 acquiring an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company's stock worth $91,606,000 after purchasing an additional 266,969 shares in the last quarter. Swedbank AB purchased a new stake in Caterpillar during the 1st quarter valued at about $97,042,000. Finally, Capital International Investors raised 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 worth $179,060,000 after buying an additional 244,253 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CAT shares. Citigroup reduced their price target on shares of Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Robert W. Baird boosted their price target on Caterpillar from $299.00 to $300.00 and gave the stock an "underperform" rating in a research note on Thursday, October 31st. StockNews.com cut Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Caterpillar has a consensus rating of "Hold" and a consensus target price of $365.33.

Caterpillar Stock Performance

Caterpillar stock traded down $2.67 during midday trading on Tuesday, hitting $381.79. The stock had a trading volume of 1,018,329 shares, compared to its average volume of 2,602,298. Caterpillar Inc. has a 52-week low of $241.81 and a 52-week high of $418.50. The company has a market capitalization of $184.33 billion, a PE ratio of 17.83, a P/E/G ratio of 1.90 and a beta of 1.10. The firm's fifty day moving average is $382.87 and its two-hundred day moving average is $354.71. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company's quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.52 EPS. On average, research analysts forecast that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.48%. Caterpillar's dividend payout ratio is presently 26.15%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This trade represents a 15.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gerald Johnson acquired 100 shares of the firm's stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 23,749 shares of company stock valued at $9,251,912 in the last three months. 0.29% of the stock is currently owned by corporate insiders.

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.