Simmons Bank Trims Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Simmons Bank trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,414 shares of the industrial products company’s stock after selling 1,340 shares during the quarter. Caterpillar makes up about 0.9% of Simmons Bank’s holdings, making the stock its 24th biggest position. Simmons Bank’s holdings in Caterpillar were worth $12,287,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Acadian Asset Management LLC lifted its position in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after acquiring an additional 1,327 shares during the period. Alpha Cubed Investments LLC increased its stake in Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after buying an additional 6,212 shares during the period. First Affirmative Financial Network acquired a new position in shares of Caterpillar during the third quarter worth about $204,000. Inspire Advisors LLC lifted its position in Caterpillar by 25.8% in the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after purchasing an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC boosted its holdings in Caterpillar by 33.7% in the 3rd quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after purchasing an additional 4,182 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 $393.08 on Wednesday. Caterpillar Inc. has a twelve month low of $238.88 and a twelve month high of $418.50. The business’s 50-day moving average price is $377.62 and its 200 day moving average price is $353.01. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $189.78 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the prior year, the business earned $5.52 EPS. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts predict that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.43%. Caterpillar’s dividend payout ratio (DPR) is 26.15%.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,749 shares of company stock worth $9,251,912. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and raised their price target for the company from $321.00 to $365.00 in a report on Wednesday. Citigroup lowered their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Bank of America raised their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group increased their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Finally, Barclays boosted their price target on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus target price of $365.33.

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.