Texas Bank & Trust Co Makes New $231,000 Investment in Caterpillar Inc. (NYSE:CAT)

Texas Bank & Trust Co purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 638 shares of the industrial products company’s stock, valued at approximately $231,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Caterpillar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after purchasing an additional 284,366 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Caterpillar by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock valued at $3,790,841,000 after purchasing an additional 236,315 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Caterpillar by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock valued at $3,294,505,000 after purchasing an additional 129,143 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock valued at $2,483,937,000 after purchasing an additional 724,477 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Caterpillar in the 4th quarter valued at $2,184,364,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and boosted their target price for the company from $272.00 to $357.00 in a research note on Friday. Bank of America reduced their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Finally, Evercore ISI upped their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $375.50.

Caterpillar Stock Performance

Shares of CAT stock opened at $353.60 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock has a market cap of $166.56 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The stock has a 50-day moving average of $317.42 and a 200-day moving average of $353.76. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the previous year, the company posted $5.60 earnings per share. Caterpillar’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.60%. Caterpillar’s payout ratio is 27.49%.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This trade represents a 27.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Maclennan acquired 375 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director now owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

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.