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

Simmons Bank decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,883 shares of the industrial products company’s stock after selling 1,531 shares during the quarter. Caterpillar accounts for about 0.8% of Simmons Bank’s holdings, making the stock its 28th biggest position. Simmons Bank’s holdings in Caterpillar were worth $10,840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new stake in Caterpillar in the 3rd quarter valued at approximately $36,000. Albion Financial Group UT grew its holdings in Caterpillar by 334.8% during the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after buying an additional 77 shares during the last quarter. Kimelman & Baird LLC increased its position in Caterpillar by 42.9% during the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after buying an additional 30 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC lifted its position in shares of Caterpillar by 130.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $342.37 on Wednesday. The firm’s fifty day simple moving average is $367.25 and its 200 day simple moving average is $373.10. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50. The firm has a market capitalization of $163.63 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.87 and a beta of 1.12.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were paid a $1.41 dividend. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.65%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday. Truist Financial cut their price objective on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. DA Davidson raised their target price on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Wedbush raised Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $383.80.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares of the company’s stock, valued at $13,714,323.35. The trade was a 15.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,704 shares of company stock valued at $7,226,584. Corporate insiders own 0.29% of the company’s stock.

Caterpillar 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.