Caterpillar Inc. (NYSE:CAT) Shares Bought by Simmons Bank

Simmons Bank grew its stake in Caterpillar Inc. (NYSE:CAT) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,687 shares of the industrial products company’s stock after buying an additional 1,196 shares during the period. Caterpillar accounts for 0.9% of Simmons Bank’s investment portfolio, making the stock its 24th largest holding. Simmons Bank’s holdings in Caterpillar were worth $11,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 19.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock worth $947,875,000 after buying an additional 529,420 shares during the last quarter. Northern Financial Advisors Inc boosted its stake in Caterpillar by 6.5% during the 4th quarter. Northern Financial Advisors Inc now owns 5,196 shares of the industrial products company’s stock worth $1,536,000 after purchasing an additional 319 shares during the period. Apollon Wealth Management LLC grew its position in Caterpillar by 53.6% during the 4th quarter. Apollon Wealth Management LLC now owns 21,674 shares of the industrial products company’s stock worth $6,408,000 after purchasing an additional 7,565 shares during the last quarter. Lincoln National Corp increased its stake in Caterpillar by 1.0% in the fourth quarter. Lincoln National Corp now owns 15,370 shares of the industrial products company’s stock valued at $4,544,000 after purchasing an additional 145 shares during the period. Finally, Machina Capital S.A.S. purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $594,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAT. TD Cowen increased their target price on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group boosted their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. HSBC boosted their price objective on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Citigroup raised their price target on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $323.35.

Insider Transactions at Caterpillar

In related news, Director David Maclennan bought 500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the purchase, the director now owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Maclennan acquired 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the transaction, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $0.21 during midday trading on Wednesday, reaching $345.21. The company’s stock had a trading volume of 1,227,350 shares, compared to its average volume of 2,487,934. The business’s fifty day simple moving average is $352.57 and its 200-day simple moving average is $304.94. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. Caterpillar Inc. has a fifty-two week low of $205.60 and a fifty-two week high of $382.01. The company has a market capitalization of $168.82 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.44 and a beta of 1.19.

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

Caterpillar Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

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.