Grove Bank & Trust Sells 43 Shares of Caterpillar Inc. (NYSE:CAT)

Grove Bank & Trust trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,482 shares of the industrial products company’s stock after selling 43 shares during the quarter. Grove Bank & Trust’s holdings in Caterpillar were worth $580,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc grew its holdings in Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after buying an additional 165,358 shares during the last quarter. Ameriprise Financial Inc. increased its position in Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after buying an additional 198,123 shares in the last quarter. Capital Research Global Investors boosted its holdings in Caterpillar by 6.3% in the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after acquiring an additional 119,326 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its stake in shares of Caterpillar by 6.4% during the second quarter. Capital Wealth Planning LLC now owns 1,381,453 shares of the industrial products company’s stock worth $460,162,000 after acquiring an additional 83,571 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $393.95 on Tuesday. The firm has a market cap of $192.66 billion, a PE ratio of 17.79, a P/E/G ratio of 1.85 and a beta of 1.10. 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 business has a 50-day moving average price of $358.99 and a 200 day moving average price of $349.46.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $5.55 EPS. Sell-side analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Analyst Upgrades and Downgrades

CAT has been the subject of several research analyst reports. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Citigroup boosted their price objective on shares of Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI reduced their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Finally, Truist Financial raised their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $355.50.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate 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.