Texas Capital Bank Wealth Management Services Inc lessened its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 13.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,680 shares of the industrial products company's stock after selling 3,463 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in Caterpillar were worth $7,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Victrix Investment Advisors purchased a new position in shares of Caterpillar in the 4th quarter worth about $2,090,000. Charles Schwab Investment Management Inc. raised its position in Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Pacific Point Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth about $579,000. Wealth Enhancement Advisory Services LLC raised its position in Caterpillar by 18.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after buying an additional 30,070 shares during the last quarter. Finally, Crestwood Advisors Group LLC raised its position in Caterpillar by 3.4% in the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock worth $7,483,000 after buying an additional 743 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.
Caterpillar Price Performance
CAT stock opened at $412.74 on Tuesday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15. The company's fifty day moving average price is $400.72 and its 200-day moving average price is $356.07. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a market capitalization of $193.36 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40.
Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results 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 return on equity of 48.95% and a net margin of 14.95%. The company had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same period last year, the firm posted $5.99 EPS. Caterpillar's quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.
Caterpillar Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 30.72%.
Analyst Ratings Changes
A number of equities analysts have weighed in on CAT shares. Barclays boosted their target price on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Evercore ISI decreased their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. Robert W. Baird boosted their target price on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Oppenheimer upped their price target on shares of Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Caterpillar has a consensus rating of "Moderate Buy" and an average target price of $444.00.
Check Out Our Latest Stock Analysis on CAT
Insider Activity at Caterpillar
In other news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company's stock.
Caterpillar Company Profile
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Caterpillar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Caterpillar wasn't on the list.
While Caterpillar currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access