Orrstown Financial Services Inc. Acquires 1,338 Shares of Caterpillar Inc. (NYSE:CAT)

Orrstown Financial Services Inc. raised its stake in Caterpillar Inc. (NYSE:CAT) by 88.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,848 shares of the industrial products company’s stock after acquiring an additional 1,338 shares during the period. Orrstown Financial Services Inc.’s holdings in Caterpillar were worth $1,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Smallwood Wealth Investment Management LLC boosted its stake in Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 26 shares during the period. First Bank & Trust boosted its position in shares of Caterpillar by 4.0% during the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock worth $277,000 after buying an additional 27 shares during the period. Pacifica Partners Inc. grew its holdings in shares of Caterpillar by 1.6% during the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares in the last quarter. Souders Financial Advisors raised its position in Caterpillar by 0.8% in the 2nd quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock valued at $1,218,000 after buying an additional 29 shares during the last quarter. Finally, Hilltop National Bank boosted its position in Caterpillar by 1.2% during the 2nd quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the topic of a number of research reports. Truist Financial boosted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America increased their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Citigroup increased their price target on Caterpillar from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI lowered their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $355.50.

Caterpillar Stock Up 1.2 %

Caterpillar stock opened at $390.61 on Tuesday. The company’s 50-day moving average price is $369.49 and its two-hundred day moving average price is $350.79. 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 stock has a market cap of $191.03 billion, a P/E ratio of 17.63, 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.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share 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 analyst estimates of $16.91 billion. During the same quarter last year, the company earned $5.55 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts expect that Caterpillar Inc. will post 21.91 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 given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is 25.46%.

Insiders Place Their Bets

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