Fulton Bank N.A. Grows Position in Caterpillar Inc. (NYSE:CAT)

Fulton Bank N.A. raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 93.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,414 shares of the industrial products company’s stock after buying an additional 1,653 shares during the period. Fulton Bank N.A.’s holdings in Caterpillar were worth $1,238,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Lantz Financial LLC boosted its position in shares of Caterpillar by 2.9% in the 2nd quarter. Lantz Financial LLC now owns 4,181 shares of the industrial products company’s stock valued at $1,393,000 after purchasing an additional 116 shares during the period. Acadian Asset Management LLC boosted its position in shares of Caterpillar by 4.9% during the 2nd quarter. Acadian Asset Management LLC now owns 9,483 shares of the industrial products company’s stock worth $3,157,000 after purchasing an additional 446 shares in the last quarter. Quest Partners LLC purchased a new position in Caterpillar in the second quarter valued at about $729,000. Prudential PLC raised its holdings in Caterpillar by 38.2% during the second quarter. Prudential PLC now owns 10,333 shares of the industrial products company’s stock worth $3,442,000 after purchasing an additional 2,854 shares during the last quarter. Finally, Sachetta LLC boosted its position in shares of Caterpillar by 22.1% in the 2nd quarter. Sachetta LLC now owns 199 shares of the industrial products company’s stock worth $68,000 after buying an additional 36 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Down 0.6 %

Shares of CAT stock opened at $360.75 on Thursday. Caterpillar Inc. has a twelve month low of $276.94 and a twelve month high of $418.50. The stock’s 50 day simple moving average is $383.04 and its 200 day simple moving average is $365.03. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market capitalization of $174.17 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.92 and a beta of 1.13.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.52 earnings per share. As a group, research analysts predict that Caterpillar Inc. will post 21.68 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.56%. Caterpillar’s dividend payout ratio is 26.15%.

Insiders Place Their Bets

In other news, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,664 shares of Caterpillar stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares of the company’s stock, valued at approximately $4,906,356.84. This trade represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,868 shares of company stock valued at $9,679,489. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial raised their price target on Caterpillar from $454.00 to $471.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group lifted their target price on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research note on Monday, November 4th. Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Finally, Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and upped their target price for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $384.33.

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.