Norway Savings Bank Purchases 890 Shares of Caterpillar Inc. (NYSE:CAT)

Norway Savings Bank increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 25.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,345 shares of the industrial products company’s stock after buying an additional 890 shares during the period. Norway Savings Bank’s holdings in Caterpillar were worth $1,069,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Herold Advisors Inc. boosted its holdings in Caterpillar by 4.1% in the 1st quarter. Herold Advisors Inc. now owns 1,304 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 51 shares during the period. BerganKDV Wealth Management LLC raised its stake in shares of Caterpillar by 29.3% in the 1st quarter. BerganKDV Wealth Management LLC now owns 618 shares of the industrial products company’s stock valued at $142,000 after buying an additional 140 shares in the last quarter. abrdn plc raised its stake in shares of Caterpillar by 11.3% in the 1st quarter. abrdn plc now owns 348,514 shares of the industrial products company’s stock valued at $79,754,000 after buying an additional 35,488 shares in the last quarter. Delta Financial Group Inc. raised its stake in shares of Caterpillar by 106.8% in the 1st quarter. Delta Financial Group Inc. now owns 3,147 shares of the industrial products company’s stock valued at $720,000 after buying an additional 1,625 shares in the last quarter. Finally, Everhart Financial Group Inc. raised its stake in shares of Caterpillar by 34.8% in the 1st quarter. Everhart Financial Group Inc. now owns 1,393 shares of the industrial products company’s stock valued at $319,000 after buying an additional 360 shares in the last quarter. 69.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAT. Citigroup increased their price objective on shares of Caterpillar from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Monday, July 17th. Bank of America increased their target price on shares of Caterpillar from $283.00 to $323.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus increased their target price on shares of Caterpillar from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. DA Davidson began coverage on shares of Caterpillar in a research report on Wednesday, June 21st. They set a “neutral” rating and a $263.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $275.00 to $315.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $267.00.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 2,923 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total transaction of $815,517.00. Following the sale, the insider now directly owns 16,182 shares of the company’s stock, valued at $4,514,778. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 2,923 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total transaction of $815,517.00. Following the sale, the insider now directly owns 16,182 shares of the company’s stock, valued at $4,514,778. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheryl H. Johnson sold 18,294 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $286.33, for a total transaction of $5,238,121.02. Following the sale, the insider now directly owns 16,362 shares in the company, valued at $4,684,931.46. The disclosure for this sale can be found here. Insiders have sold a total of 54,918 shares of company stock valued at $15,299,870 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Down 1.2 %

Shares of Caterpillar stock traded down $3.41 on Friday, hitting $279.15. The company had a trading volume of 4,940,871 shares, compared to its average volume of 3,088,398. The stock has a 50-day moving average of $272.99 and a 200-day moving average of $242.34. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.33 and a quick ratio of 0.83. The firm has a market capitalization of $142.39 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.16 and a beta of 1.13. Caterpillar Inc. has a twelve month low of $160.60 and a twelve month high of $293.88.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $5.55 EPS for the quarter, topping analysts’ consensus estimates of $4.57 by $0.98. The business had revenue of $17.30 billion for the quarter, compared to analyst estimates of $16.46 billion. Caterpillar had a net margin of 12.91% and a return on equity of 55.93%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.18 earnings per share. Research analysts predict that Caterpillar Inc. will post 19.82 earnings per share for the current year.

Caterpillar Company 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.