Citizens National Bank Trust Department Has $8.20 Million Stock Position in Caterpillar Inc. $CAT

Citizens National Bank Trust Department cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,118 shares of the industrial products company’s stock after selling 125 shares during the period. Caterpillar comprises approximately 1.6% of Citizens National Bank Trust Department’s investment portfolio, making the stock its 14th biggest position. Citizens National Bank Trust Department’s holdings in Caterpillar were worth $8,198,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $579,000. Brighton Jones LLC increased its position in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after acquiring an additional 2,519 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Caterpillar by 4.8% during the first quarter. Wedge Capital Management L L P NC now owns 917 shares of the industrial products company’s stock valued at $302,000 after acquiring an additional 42 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Caterpillar by 41.6% during the first quarter. Farther Finance Advisors LLC now owns 11,843 shares of the industrial products company’s stock worth $3,915,000 after purchasing an additional 3,481 shares during the period. Finally, Octavia Wealth Advisors LLC grew its stake in shares of Caterpillar by 21.3% in the first quarter. Octavia Wealth Advisors LLC now owns 774 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $486.86 on Wednesday. The firm has a market capitalization of $228.09 billion, a P/E ratio of 24.76, a P/E/G ratio of 3.01 and a beta of 1.46. The firm’s 50-day moving average price is $439.39 and its 200-day moving average price is $380.92. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $505.59.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.99 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio is presently 30.72%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. DA Davidson lifted their target price on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Barclays upped their target price on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Truist Financial boosted their price target on shares of Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and an average price target of $466.53.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% 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. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock worth $16,885,492 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.