Cullen Frost Bankers Inc. Decreases Stake in Caterpillar Inc. (NYSE:CAT)

Cullen Frost Bankers Inc. cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,609 shares of the industrial products company's stock after selling 742 shares during the period. Cullen Frost Bankers Inc.'s holdings in Caterpillar were worth $3,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC boosted its position in shares of Caterpillar by 3.2% in the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after purchasing an additional 30 shares in the last quarter. Asset Management Group Inc. increased its stake in shares of Caterpillar by 0.3% in the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after purchasing an additional 32 shares in the last quarter. Dunhill Financial LLC increased its stake in shares of Caterpillar by 21.3% in the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 36 shares in the last quarter. Silvia Mccoll Wealth Management LLC boosted its holdings in Caterpillar by 2.1% in the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company's stock worth $578,000 after buying an additional 36 shares during the last quarter. Finally, Insight Advisors LLC PA boosted its holdings in Caterpillar by 2.6% in the 1st quarter. Insight Advisors LLC PA now owns 1,446 shares of the industrial products company's stock worth $477,000 after buying an additional 36 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Up 1.3%

Shares of NYSE CAT opened at $418.22 on Friday. The stock has a market cap of $197.00 billion, a P/E ratio of 20.38, a P/E/G ratio of 2.73 and a beta of 1.38. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $419.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The firm has a 50 day moving average price of $367.85 and a 200 day moving average price of $349.43.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the previous year, the company posted $5.60 EPS. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.44%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio is presently 27.49%.

Analysts Set New Price Targets

Several analysts have recently commented on CAT shares. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Robert W. Baird boosted their target price on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research note on Monday. DA Davidson upped their price objective on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $412.33.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company's stock.

Caterpillar 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.

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