Home Federal Bank of Tennessee Decreases Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Home Federal Bank of Tennessee has reduced its holdings in Caterpillar Inc. by 54.9%, now owning 984 shares valued at approximately $382,000.
• Caterpillar's stock price reached a one-year high of $485.34, with earnings of $4.72 per share in its latest quarterly report, missing estimates by $0.16.
• Research analysts have given Caterpillar a mixed outlook, with ratings ranging from Strong Buy to Hold, and an average target price of $464.33.

Home Federal Bank of Tennessee trimmed its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 54.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 984 shares of the industrial products company's stock after selling 1,200 shares during the quarter. Home Federal Bank of Tennessee's holdings in Caterpillar were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Compass Financial Services Inc raised its holdings in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in Caterpillar in the 2nd quarter worth $32,000. Curat Global LLC bought a new position in Caterpillar in the 1st quarter worth $33,000. Redmont Wealth Advisors LLC bought a new position in Caterpillar in the 1st quarter worth $33,000. Finally, Mattson Financial Services LLC bought a new position in Caterpillar in the 4th quarter worth $39,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

Shares of CAT stock opened at $471.77 on Wednesday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $485.34. The company's 50-day moving average is $427.87 and its 200 day moving average is $371.09. The company has a market capitalization of $221.02 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 2.87 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same period last year, the company posted $5.99 earnings per share. The business's revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $500.00 target price on shares of Caterpillar in a research report on Friday, August 29th. DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Truist Financial upped their target price on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $464.33.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares of the company's stock, valued at approximately $215,289,088.35. This represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is owned by insiders.

About Caterpillar

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.

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