Caterpillar Inc. (NYSE:CAT) Shares Sold by American National Bank & Trust

American National Bank & Trust lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,660 shares of the industrial products company’s stock after selling 1,029 shares during the quarter. American National Bank & Trust’s holdings in Caterpillar were worth $9,645,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CAT. Vanguard Group Inc. increased its holdings in shares of Caterpillar by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after purchasing an additional 129,216 shares during the period. Fisher Asset Management LLC grew its position in Caterpillar by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock valued at $2,406,471,000 after buying an additional 173,108 shares during the last quarter. Legal & General Group Plc increased its stake in Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after buying an additional 75,973 shares during the period. Dimensional Fund Advisors LP raised its position 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. Finally, Ameriprise Financial Inc. lifted its stake in shares of Caterpillar by 10.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after acquiring an additional 198,123 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on 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 owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock valued at $2,665,760 over the last 90 days. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.4 %

Shares of Caterpillar stock opened at $394.09 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The business has a 50 day moving average price of $349.66 and a 200 day moving average price of $347.47. The company has a market capitalization of $192.73 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $397.22.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating 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 business 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 business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar announced that its board has initiated a share buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CAT shares. Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target for the company. Raymond James started coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. UBS Group raised their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $339.94.

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.