1ST Source Bank Has $2.85 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

1ST Source Bank increased its holdings in shares of Caterpillar Inc. (NYSE:CATFree Report) by 5.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,429 shares of the industrial products company’s stock after purchasing an additional 500 shares during the period. 1ST Source Bank’s holdings in Caterpillar were worth $2,847,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CAT. JW Asset Management LLC acquired a new stake in shares of Caterpillar in the third quarter valued at approximately $1,099,000. WBI Investments Inc. increased its holdings in Caterpillar by 47.1% in the third quarter. WBI Investments Inc. now owns 8,554 shares of the industrial products company’s stock valued at $2,335,000 after purchasing an additional 2,739 shares during the period. Greenleaf Trust grew its holdings in Caterpillar by 1.9% during the 3rd quarter. Greenleaf Trust now owns 16,344 shares of the industrial products company’s stock worth $4,462,000 after acquiring an additional 302 shares during the period. Boston Financial Mangement LLC grew its holdings in Caterpillar by 3.7% during the 3rd quarter. Boston Financial Mangement LLC now owns 1,772 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 64 shares during the period. Finally, Wafra Inc. acquired a new stake in Caterpillar during the 3rd quarter worth about $24,950,000. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CAT. Sanford C. Bernstein raised their price target on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Tigress Financial raised their price target on shares of Caterpillar from $282.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. The Goldman Sachs Group raised their price target on shares of Caterpillar from $274.00 to $357.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, HSBC began coverage on shares of Caterpillar in a research report on Monday, November 20th. They issued a “hold” rating and a $250.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average price target of $284.72.

Read Our Latest Research Report on CAT

Caterpillar Price Performance

Shares of NYSE CAT traded up $5.65 during midday trading on Monday, reaching $322.81. The stock had a trading volume of 1,128,422 shares, compared to its average volume of 2,813,592. The company has a market capitalization of $164.34 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15. The stock has a 50-day moving average of $290.15 and a 200-day moving average of $273.71. Caterpillar Inc. has a 12-month low of $204.04 and a 12-month high of $334.87. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35.

Caterpillar (NYSE:CATGet Free Report) last posted its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.47. The company had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. Caterpillar’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $3.86 earnings per share. As a group, research analysts anticipate that Caterpillar Inc. will post 21.04 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be given a dividend of $1.30 per share. The ex-dividend date is Friday, January 19th. This represents a $5.20 annualized dividend and a yield of 1.61%. Caterpillar’s dividend payout ratio (DPR) is currently 25.82%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the transaction, the insider now owns 61,092 shares in the company, valued at $19,886,667.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $300.04, for a total value of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares in the company, valued at approximately $19,886,667.84. The disclosure for this sale can be found here. Insiders sold 41,194 shares of company stock worth $13,000,471 over the last 90 days. 0.33% of the stock is owned by insiders.

About Caterpillar

(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 the United States and internationally. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, tractors, excavators, telehandlers, motor graders, and pipelayers; compact track and multi-terrain, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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