Texas Capital Bank Wealth Management Services Inc Boosts Stake in Caterpillar Inc. $CAT

Texas Capital Bank Wealth Management Services Inc boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,568 shares of the industrial products company’s stock after acquiring an additional 1,376 shares during the quarter. Caterpillar accounts for about 0.9% of Texas Capital Bank Wealth Management Services Inc’s investment portfolio, making the stock its 26th largest position. Texas Capital Bank Wealth Management Services Inc’s holdings in Caterpillar were worth $10,768,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Caterpillar during the second quarter worth about $2,165,899,000. Massachusetts Financial Services Co. MA raised its stake in Caterpillar by 1,851.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock valued at $873,382,000 after purchasing an additional 1,736,631 shares in the last quarter. Marshall Wace LLP lifted its position in Caterpillar by 425.2% during the second quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock valued at $295,738,000 after purchasing an additional 616,739 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Caterpillar by 20.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company’s stock worth $1,695,757,000 after buying an additional 609,023 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in Caterpillar by 36.9% in the 3rd quarter. Voya Investment Management LLC now owns 1,777,589 shares of the industrial products company’s stock worth $848,177,000 after buying an additional 478,972 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research reports. Morgan Stanley raised their price objective on shares of Caterpillar from $400.00 to $425.00 and gave the company an “underweight” rating in a research report on Tuesday, February 3rd. Wall Street Zen lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Sanford C. Bernstein restated a “market perform” rating and set a $678.00 price target on shares of Caterpillar in a research report on Friday, January 30th. Wolfe Research lifted their price target on Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Finally, Daiwa Securities Group upped their price objective on Caterpillar from $640.00 to $790.00 in a report on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $730.50.

Caterpillar Stock Down 1.0%

Shares of NYSE:CAT opened at $693.89 on Friday. The stock has a market capitalization of $322.86 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.54. The stock’s 50-day moving average price is $693.92 and its 200-day moving average price is $583.93. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $789.81.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. The company had revenue of $19.13 billion during the quarter, compared to analyst estimates of $17.81 billion. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.Caterpillar’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.14 EPS. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Transactions at Caterpillar

In related news, insider Lange Bob De sold 22,656 shares of Caterpillar stock in a transaction on Friday, February 6th. The shares were sold at an average price of $720.11, for a total value of $16,314,812.16. Following the transaction, the insider directly owned 79,953 shares of the company’s stock, valued at $57,574,954.83. The trade was a 22.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rodney Michael Shurman sold 2,278 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $759.61, for a total transaction of $1,730,391.58. Following the sale, the insider owned 1,443 shares of the company’s stock, valued at $1,096,117.23. This represents a 61.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 135,950 shares of company stock valued at $94,327,990. Insiders own 0.33% of the company’s stock.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.