Penobscot Investment Management Company Inc. Sells 30 Shares of Caterpillar Inc. (NYSE:CAT)

Penobscot Investment Management Company Inc. lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,975 shares of the industrial products company’s stock after selling 30 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Caterpillar were worth $3,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in Caterpillar in the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new position in Caterpillar during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar in the 4th quarter worth approximately $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $34,000. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CAT shares. JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wedbush raised Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Truist Financial lowered their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $383.80.

Caterpillar Price Performance

Caterpillar stock opened at $342.65 on Wednesday. The stock has a market cap of $163.76 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The firm has a 50-day moving average of $357.63 and a two-hundred day moving average of $372.46. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the acquisition, the director now directly owns 3,053 shares in the company, valued at $1,116,085.21. This represents a 3.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

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.