Adirondack Trust Co. cut its stake in Caterpillar Inc. (NYSE:CAT) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,477 shares of the industrial products company’s stock after selling 116 shares during the period. Adirondack Trust Co.’s holdings in Caterpillar were worth $1,071,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC lifted its holdings in Caterpillar by 3,600.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after buying an additional 180 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new stake in Caterpillar during the 2nd quarter worth about $27,000. Kavar Capital Partners LLC purchased a new stake in Caterpillar during the 2nd quarter worth about $46,000. Sound Income Strategies LLC lifted its holdings in Caterpillar by 23.5% during the 2nd quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock worth $52,000 after buying an additional 72 shares during the last quarter. Finally, Exane Derivatives purchased a new stake in Caterpillar during the 2nd quarter worth about $54,000. Hedge funds and other institutional investors own 64.95% of the company’s stock.

A number of analysts have issued reports on CAT shares. Buckingham Research downgraded Caterpillar from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $162.00 to $140.00 in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Caterpillar in a report on Wednesday, August 14th. UBS Group decreased their price target on Caterpillar from $122.00 to $117.00 and set a “sell” rating for the company in a report on Tuesday. ValuEngine raised Caterpillar from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup decreased their price target on Caterpillar from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $138.37.

In other news, General Counsel Suzette M. Long sold 5,019 shares of Caterpillar stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $126.34, for a total transaction of $634,100.46. Following the sale, the general counsel now owns 12,569 shares in the company, valued at $1,587,967.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.

Shares of CAT traded up $1.47 during midday trading on Wednesday, reaching $119.44. 2,274,296 shares of the stock were exchanged, compared to its average volume of 4,271,923. The business’s 50-day moving average price is $123.11 and its 200 day moving average price is $129.25. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00. Caterpillar Inc. has a twelve month low of $111.75 and a twelve month high of $149.17. The company has a market capitalization of $68.10 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 0.86 and a beta of 1.52.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The firm had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same quarter last year, the firm posted $2.97 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Caterpillar Inc. will post 11.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.45%. Caterpillar’s dividend payout ratio (DPR) is currently 36.72%.

Caterpillar Profile

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.

Read More: Capital Gains Distribution

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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