Citizens Business Bank Increases Holdings in Caterpillar Inc. $CAT

Citizens Business Bank grew its holdings in Caterpillar Inc. (NYSE:CAT) by 2.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,686 shares of the industrial products company’s stock after acquiring an additional 35 shares during the period. Citizens Business Bank’s holdings in Caterpillar were worth $655,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CAT. Valeo Financial Advisors LLC lifted its position in shares of Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after buying an additional 7,279,991 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock worth $1,386,626,000 after buying an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Caterpillar by 0.5% in the first 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 in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after buying an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock worth $1,036,211,000 after buying an additional 150,533 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company’s stock, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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 trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock valued at $25,559,300 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their target price on Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Oppenheimer upped their price objective on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Finally, Bank of America upped their price objective on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $510.60.

Caterpillar Trading Down 2.5%

CAT opened at $527.41 on Friday. The stock has a market cap of $247.08 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 3.09 and a beta of 1.46. The stock’s 50 day moving average price is $453.38 and its 200-day moving average price is $390.54. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $5.99 EPS. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is currently 30.72%.

Caterpillar Company 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.