Canandaigua National Bank & Trust Co. Purchases 1,306 Shares of Caterpillar Inc. $CAT

Canandaigua National Bank & Trust Co. boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,947 shares of the industrial products company’s stock after purchasing an additional 1,306 shares during the period. Caterpillar comprises 0.8% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 25th biggest holding. Canandaigua National Bank & Trust Co.’s holdings in Caterpillar were worth $9,041,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in shares of Caterpillar by 2.3% in the second quarter. Fisher Asset Management LLC now owns 9,418,321 shares of the industrial products company’s stock worth $3,656,286,000 after buying an additional 208,196 shares during the period. Valeo Financial Advisors LLC grew its position in Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after acquiring an additional 7,279,991 shares during the last quarter. Norges Bank purchased a new stake in Caterpillar in the second quarter worth $2,165,899,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Caterpillar by 6.7% during 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 worth $1,386,626,000 after purchasing an additional 264,054 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Caterpillar by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock valued at $1,295,432,000 after purchasing an additional 33,467 shares during the period. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the completion of the transaction, the chief financial officer owned 55,460 shares in the company, valued at $31,692,062.40. The trade was a 15.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Maclennan bought 300 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average cost of $568.86 per share, with a total value of $170,658.00. Following the transaction, the director directly owned 7,947 shares of the company’s stock, valued at $4,520,730.42. The trade was a 3.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 79,061 shares of company stock worth $41,949,366. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Caterpillar in a report on Thursday, November 13th. They set an “overweight” rating and a $675.00 price objective for the company. Morgan Stanley lifted their price target on shares of Caterpillar from $380.00 to $395.00 and gave the company an “underweight” rating in a research note on Wednesday, December 10th. Oppenheimer increased their price objective on Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and lifted their target price for the company from $405.00 to $660.00 in a research report on Wednesday, November 5th. Finally, Truist Financial reissued a “buy” rating and set a $729.00 price target (up previously from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $612.16.

Caterpillar Stock Down 0.1%

Caterpillar stock opened at $589.31 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a market cap of $275.79 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.78 and a beta of 1.57. The business has a fifty day moving average of $558.57 and a two-hundred day moving average of $465.74. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $627.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period in the previous year, the company posted $5.17 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

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

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.