Indiana Trust & Investment Management Co Boosts Holdings in Caterpillar Inc. $CAT

Indiana Trust & Investment Management Co grew its holdings in Caterpillar Inc. (NYSE:CAT) by 11.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,434 shares of the industrial products company’s stock after acquiring an additional 885 shares during the period. Caterpillar comprises approximately 1.2% of Indiana Trust & Investment Management Co’s portfolio, making the stock its 16th largest position. Indiana Trust & Investment Management Co’s holdings in Caterpillar were worth $4,024,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC raised its position in Caterpillar by 2.3% in the 2nd quarter. Fisher Asset Management LLC now owns 9,418,321 shares of the industrial products company’s stock valued at $3,656,286,000 after purchasing an additional 208,196 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after buying an additional 7,279,991 shares in the last quarter. Norges Bank acquired a new stake in Caterpillar in the second quarter valued at approximately $2,165,899,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after acquiring an additional 264,054 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Caterpillar by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock worth $1,295,432,000 after acquiring an additional 33,467 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the transaction, the insider owned 41,512 shares in the company, valued at $23,669,312.16. The trade was a 16.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lange Bob De sold 14,638 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total value of $8,231,825.68. Following the sale, the insider directly owned 80,209 shares of the company’s stock, valued at $45,106,333.24. The trade was a 15.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 61,895 shares of company stock valued at $34,007,516 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 0.1%

Shares of NYSE CAT opened at $583.09 on Friday. The business has a 50-day moving average price of $568.28 and a 200 day moving average price of $477.54. The stock has a market cap of $272.88 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 2.74 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $627.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.17 earnings per share. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be paid a dividend of $1.51 per share. The ex-dividend date is Tuesday, January 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.0%. Caterpillar’s dividend payout ratio is currently 31.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CAT shares. Truist Financial restated a “buy” rating and issued a $729.00 price objective (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. Morgan Stanley raised their price target on Caterpillar from $380.00 to $395.00 and gave the company an “underweight” rating in a research note on Wednesday, December 10th. Barclays upped their price objective on Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. UBS Group raised their target price on Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, Bank of America upped their price target on Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $616.00.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.