City State Bank Sells 77 Shares of Caterpillar Inc. (NYSE:CAT)

Posted by Doug Madison on Mar 19th, 2023

City State Bank trimmed its position in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,528 shares of the industrial products company’s stock after selling 77 shares during the period. City State Bank’s holdings in Caterpillar were worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CAT. Morgan Dempsey Capital Management LLC bought a new position in shares of Caterpillar in the third quarter worth $33,000. Cowa LLC bought a new position in shares of Caterpillar in the third quarter worth $33,000. Alpha Paradigm Partners LLC bought a new position in shares of Caterpillar in the second quarter worth $40,000. McClarren Financial Advisors Inc. bought a new position in shares of Caterpillar in the third quarter worth $49,000. Finally, Heritage Wealth Management LLC bought a new position in shares of Caterpillar in the second quarter worth $62,000. 68.02% of the stock is owned by institutional investors.

Caterpillar Price Performance

NYSE CAT traded down $3.70 during trading hours on Friday, reaching $215.01. 7,203,047 shares of the stock traded hands, compared to its average volume of 3,108,596. The stock has a 50 day simple moving average of $246.19 and a two-hundred day simple moving average of $222.28. Caterpillar Inc. has a 1 year low of $160.60 and a 1 year high of $266.04. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.39 and a quick ratio of 0.87. The company has a market cap of $111.02 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11.

Caterpillar (NYSE:CAT – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $3.86 earnings per share for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.09). The firm had revenue of $16.60 billion for the quarter, compared to analysts’ expectations of $15.84 billion. Caterpillar had a net margin of 11.28% and a return on equity of 45.61%. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.69 EPS. On average, analysts predict that Caterpillar Inc. will post 15.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Bank of America raised Caterpillar from a “neutral” rating to a “buy” rating and raised their price target for the stock from $217.00 to $295.00 in a report on Friday, January 13th. StockNews.com initiated coverage on Caterpillar in a report on Thursday. They issued a “buy” rating for the company. Morgan Stanley lifted their price objective on Caterpillar from $174.00 to $190.00 and gave the company an “underweight” rating in a research note on Wednesday, December 14th. Cowen lifted their price objective on Caterpillar from $240.00 to $264.00 in a research note on Friday, December 9th. Finally, Credit Suisse Group lifted their price objective on Caterpillar from $290.00 to $306.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average price target of $241.00.

Insider Transactions at Caterpillar

In other news, insider Joseph E. Creed sold 18,294 shares of Caterpillar stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $249.00, for a total value of $4,555,206.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Denise C. Johnson sold 23,737 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $240.14, for a total value of $5,700,203.18. Following the sale, the insider now directly owns 8,605 shares of the company’s stock, valued at $2,066,404.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph E. Creed sold 18,294 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $249.00, for a total value of $4,555,206.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,984 shares of company stock worth $22,519,893. Company insiders own 0.27% of the company’s stock.

Caterpillar Profile

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Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.