Wesbanco Bank Inc. Sells 270 Shares of Caterpillar Inc. (NYSE:CAT)

Wesbanco Bank Inc. lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,431 shares of the industrial products company’s stock after selling 270 shares during the period. Wesbanco Bank Inc.’s holdings in Caterpillar were worth $8,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth approximately $77,000. Richardson Financial Services Inc. acquired a new position in Caterpillar during the 4th quarter worth $27,000. Greenwood Capital Associates LLC bought a new position in Caterpillar in the 4th quarter valued at $400,000. Orrstown Financial Services Inc. bought a new stake in shares of Caterpillar during the first quarter worth $498,000. Finally, Cullen Investment Group LTD. boosted its holdings in Caterpillar by 3.8% in the first quarter. Cullen Investment Group LTD. now owns 8,953 shares of the industrial products company’s stock valued at $3,266,000 after acquiring an additional 326 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the business’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 transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Down 2.0 %

Shares of CAT stock opened at $393.95 on Tuesday. The firm’s fifty day moving average price is $358.99 and its two-hundred day moving average price is $349.46. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $403.60. The firm has a market capitalization of $192.66 billion, a P/E ratio of 17.79, a PEG ratio of 1.85 and a beta of 1.10.

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

Caterpillar Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Citigroup lifted their target price on shares of Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $349.00 to $332.00 in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus price target of $355.50.

Caterpillar 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.