Caterpillar Inc. (NYSE:CAT) is Cutler Investment Counsel LLC’s 6th Largest Position

Cutler Investment Counsel LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,459 shares of the industrial products company’s stock after selling 1,774 shares during the period. Caterpillar comprises 3.2% of Cutler Investment Counsel LLC’s portfolio, making the stock its 6th largest position. Cutler Investment Counsel LLC’s holdings in Caterpillar were worth $25,211,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CAT. M&G Plc bought a new position in Caterpillar during the 1st quarter worth approximately $15,009,000. First Foundation Advisors grew its position in shares of Caterpillar by 4.8% during the 1st quarter. First Foundation Advisors now owns 3,861 shares of the industrial products company’s stock valued at $1,415,000 after buying an additional 177 shares during the last quarter. Spirepoint Private Client LLC bought a new position in Caterpillar in the first quarter worth about $221,000. TIAA Trust National Association lifted its holdings in shares of Caterpillar by 3.6% in the 1st quarter. TIAA Trust National Association now owns 21,080 shares of the industrial products company’s stock worth $7,724,000 after purchasing an additional 729 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after purchasing an additional 1,327 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CAT shares. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. 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. UBS Group increased their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Truist Financial lifted their price target on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $365.33.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $3.29 during trading on Friday, reaching $384.07. 2,165,453 shares of the company traded hands, compared to its average volume of 2,613,751. The firm has a market capitalization of $185.43 billion, a PE ratio of 17.81, a PEG ratio of 1.91 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50. The company’s 50 day moving average is $381.86 and its two-hundred day moving average is $354.07.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business 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%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $5.52 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.47%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Transactions at Caterpillar

In other news, Director Daniel M. Dickinson sold 1,300 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the transaction, the director now owns 4,976 shares of the company’s stock, valued at approximately $2,079,968. The trade was a 20.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 12,657 shares of the business’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 directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,749 shares of company stock valued at $9,251,912 over the last three months. Company insiders own 0.29% of the company’s stock.

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.