Amarillo National Bank lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 38.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,192 shares of the industrial products company’s stock after purchasing an additional 2,000 shares during the period. Amarillo National Bank’s holdings in Caterpillar were worth $1,097,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Acropolis Investment Management LLC purchased a new stake in Caterpillar during the third quarter valued at approximately $100,000. Sound Income Strategies LLC lifted its position in Caterpillar by 181.8% during the third quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 429 shares during the last quarter. Avestar Capital LLC lifted its position in Caterpillar by 92.3% during the second quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 477 shares during the last quarter. Landaas & Co. WI ADV purchased a new stake in Caterpillar during the second quarter valued at approximately $130,000. Finally, Front Row Advisors LLC lifted its position in Caterpillar by 125.0% during the first quarter. Front Row Advisors LLC now owns 900 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 500 shares during the last quarter. 66.63% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on CAT shares. Bank of America reissued a “hold” rating and set a $163.00 target price on shares of Caterpillar in a research report on Friday, June 15th. Citigroup raised shares of Caterpillar to an “outperform” rating in a research report on Friday, September 21st. Zacks Investment Research cut shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Deutsche Bank set a $177.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research report on Wednesday, September 5th. Finally, Argus decreased their target price on shares of Caterpillar from $185.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $171.08.
In other news, insider Denise C. Johnson sold 35,051 shares of the stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the sale, the insider now owns 22,826 shares in the company, valued at $3,519,312.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.36% of the stock is owned by corporate insiders.
NYSE CAT opened at $142.07 on Friday. The firm has a market capitalization of $90.63 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 0.84 and a beta of 1.37. Caterpillar Inc. has a 12-month low of $129.20 and a 12-month high of $173.24. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.37 and a quick ratio of 0.97.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.24. The business had revenue of $14.01 billion during the quarter, compared to analysts’ expectations of $14.09 billion. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the company posted $1.49 earnings per share. As a group, equities analysts anticipate that Caterpillar Inc. will post 11.65 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd will be paid a $0.86 dividend. The ex-dividend date is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.42%. Caterpillar’s payout ratio is currently 50.00%.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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