Simmons Bank Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Simmons Bank lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,687 shares of the industrial products company’s stock after purchasing an additional 1,196 shares during the quarter. Caterpillar accounts for about 0.9% of Simmons Bank’s holdings, making the stock its 24th largest position. Simmons Bank’s holdings in Caterpillar were worth $11,143,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Brown Advisory Inc. increased its stake in Caterpillar by 6.0% in the third quarter. Brown Advisory Inc. now owns 72,873 shares of the industrial products company’s stock valued at $19,894,000 after acquiring an additional 4,154 shares during the last quarter. Telemus Capital LLC raised its stake in shares of Caterpillar by 5.0% during the third quarter. Telemus Capital LLC now owns 1,762 shares of the industrial products company’s stock worth $481,000 after acquiring an additional 84 shares in the last quarter. WealthShield Partners LLC boosted its stake in shares of Caterpillar by 16.5% in the 3rd quarter. WealthShield Partners LLC now owns 1,449 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 205 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Caterpillar by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,707 shares of the industrial products company’s stock valued at $2,104,000 after purchasing an additional 323 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Caterpillar by 25.7% in the 3rd quarter. Mackenzie Financial Corp now owns 326,142 shares of the industrial products company’s stock worth $87,722,000 after purchasing an additional 66,767 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CAT shares. The Goldman Sachs Group raised their price objective on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and raised their target price for the stock from $321.00 to $338.00 in a report on Tuesday, February 20th. TD Cowen upped their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Robert W. Baird raised their price target on shares of Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a report on Tuesday, February 6th. Finally, StockNews.com downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $323.35.

Caterpillar Stock Up 0.1 %

CAT traded up $0.21 during trading on Wednesday, hitting $345.21. 1,227,350 shares of the company’s stock traded hands, compared to its average volume of 2,487,934. The stock has a market capitalization of $168.82 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.44 and a beta of 1.19. The company’s 50 day simple moving average is $352.57 and its two-hundred day simple moving average is $304.94. Caterpillar Inc. has a 12-month low of $205.60 and a 12-month high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. Analysts predict that Caterpillar Inc. will post 21.79 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

Insider Activity at Caterpillar

In related news, Director David Maclennan purchased 350 shares of Caterpillar stock in a transaction on Friday, February 23rd. The shares were bought at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the acquisition, the director now owns 5,238 shares in the company, valued at approximately $1,693,812.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director David Maclennan bought 350 shares of Caterpillar stock in a transaction dated Friday, February 23rd. The shares were acquired at an average cost of $323.37 per share, with a total value of $113,179.50. Following the completion of the transaction, the director now owns 5,238 shares in the company, valued at approximately $1,693,812.06. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the sale, the insider now directly owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

About Caterpillar

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.