Penobscot Investment Management Company Inc. Sells 30 Shares of Caterpillar Inc. (NYSE:CAT)

Penobscot Investment Management Company Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,975 shares of the industrial products company’s stock after selling 30 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Caterpillar were worth $3,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Caterpillar during the 4th quarter worth approximately $353,231,000. Proficio Capital Partners LLC grew its stake in Caterpillar by 50,072.7% in the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company’s stock worth $291,938,000 after purchasing an additional 803,166 shares during the period. Amundi lifted its position in Caterpillar by 17.3% during the fourth quarter. Amundi now owns 2,166,087 shares of the industrial products company’s stock valued at $782,109,000 after buying an additional 318,891 shares during the period. Vanguard Group Inc. lifted its position in Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after buying an additional 284,366 shares during the period. Finally, Zurich Insurance Group Ltd FI grew its position in shares of Caterpillar by 4,018.6% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after buying an additional 249,155 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Caterpillar Trading Up 0.3 %

Caterpillar stock opened at $342.65 on Wednesday. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The company has a market cap of $163.76 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The business has a 50-day simple moving average of $357.63 and a two-hundred day simple moving average of $372.46.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wedbush raised shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Truist Financial lowered their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Citigroup increased their target price on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $383.80.

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.