3,345 Shares in Caterpillar Inc. $CAT Bought by Montecito Bank & Trust

Montecito Bank & Trust acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,345 shares of the industrial products company’s stock, valued at approximately $1,596,000.

Several other institutional investors have also recently made changes to their positions in CAT. Orser Capital Management LLC purchased a new position in Caterpillar during the third quarter worth about $689,000. Lbmc Investment Advisors LLC lifted its position in shares of Caterpillar by 204.9% during the 3rd quarter. Lbmc Investment Advisors LLC now owns 3,159 shares of the industrial products company’s stock worth $1,507,000 after buying an additional 2,123 shares in the last quarter. Acropolis Investment Management LLC boosted its stake in shares of Caterpillar by 8.1% in the 3rd quarter. Acropolis Investment Management LLC now owns 2,402 shares of the industrial products company’s stock worth $1,146,000 after buying an additional 180 shares during the last quarter. Norway Savings Bank grew its holdings in shares of Caterpillar by 0.7% in the third quarter. Norway Savings Bank now owns 4,603 shares of the industrial products company’s stock valued at $2,196,000 after acquiring an additional 30 shares in the last quarter. Finally, Grant Private Wealth Management Inc increased its position in shares of Caterpillar by 68.5% during the third quarter. Grant Private Wealth Management Inc now owns 1,405 shares of the industrial products company’s stock valued at $670,000 after acquiring an additional 571 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In related news, Director David Maclennan purchased 300 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the completion of the transaction, the director directly owned 7,947 shares in the company, valued at approximately $4,520,730.42. This represents a 3.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 10,707 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the completion of the transaction, the insider owned 8,649 shares of the company’s stock, valued at $4,874,576.40. This trade represents a 55.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 79,061 shares of company stock worth $41,949,366 in the last 90 days. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

CAT opened at $561.25 on Thursday. The firm has a 50-day moving average price of $559.75 and a 200-day moving average price of $466.41. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $627.50. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $262.66 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 2.77 and a beta of 1.57.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same period last year, the firm earned $5.17 EPS. Caterpillar’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be given a $1.51 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s payout ratio is 31.01%.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Barclays increased their price target on shares of Caterpillar from $485.00 to $555.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Citigroup raised shares of Caterpillar from a “buy” rating to a “mixed” rating in a research report on Tuesday. Finally, DA Davidson raised their price target on shares of Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $612.16.

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.