Orrstown Financial Services Inc. Sells 331 Shares of Caterpillar Inc. (NYSE:CAT)

Orrstown Financial Services Inc. lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,517 shares of the industrial products company’s stock after selling 331 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Caterpillar were worth $913,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CAT. Capital Performance Advisors LLP acquired a new stake in Caterpillar during the third quarter worth approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in Caterpillar in the 4th quarter valued at $34,000. Kimelman & Baird LLC grew its holdings in Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after buying an additional 30 shares in the last quarter. Albion Financial Group UT increased its position in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after buying an additional 77 shares during the period. Finally, Trivant Custom Portfolio Group LLC boosted its position in shares of Caterpillar by 130.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 65 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Up 2.1 %

Caterpillar stock traded up $8.00 during mid-day trading on Wednesday, hitting $398.29. 173,196 shares of the stock were exchanged, compared to its average volume of 2,064,576. The stock has a market capitalization of $192.30 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.97 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 12 month low of $299.93 and a 12 month high of $418.50. The firm’s fifty day simple moving average is $381.27 and its two-hundred day simple moving average is $370.23.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.52 earnings per share. Analysts forecast that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.42%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analyst Weigh In

A number of research firms have commented on CAT. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Citigroup dropped their target price on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. UBS Group lifted their price objective on shares of Caterpillar from $295.00 to $355.00 and gave the company a “sell” rating in a research note on Tuesday. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley lowered Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $384.60.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel M. Dickinson sold 1,300 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the transaction, the director now owns 4,976 shares of the company’s stock, valued at $2,079,968. This trade represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,868 shares of company stock worth $13,480,389. 0.29% of the stock is 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.