Simmons Bank Trims Stake in Caterpillar Inc. (NYSE:CAT)

Simmons Bank lowered its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,420 shares of the industrial products company's stock after selling 1,463 shares during the quarter. Simmons Bank's holdings in Caterpillar were worth $9,373,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAT. Norges Bank acquired a new position in Caterpillar in the 4th quarter valued at $2,184,364,000. GAMMA Investing LLC raised its holdings in Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after acquiring an additional 3,721,693 shares during the last quarter. Capital Research Global Investors raised its holdings in Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after acquiring an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Caterpillar in the 4th quarter valued at $353,231,000. Finally, Northern Trust Corp raised its holdings in Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after acquiring an additional 724,477 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 0.2%

Shares of NYSE CAT opened at $399.33 on Friday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50. The company has a market cap of $188.10 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.64 and a beta of 1.38. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The stock has a fifty day moving average price of $351.96 and a 200 day moving average price of $346.95.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the company posted $5.60 earnings per share. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal 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 given a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is presently 27.49%.

Analyst Ratings Changes

CAT has been the subject of several analyst reports. Citigroup reiterated a "buy" rating and issued a $420.00 price target (up from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a report on Thursday, May 1st. DA Davidson upped their price objective on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $380.83.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

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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