Amarillo National Bank Cuts Holdings in Caterpillar Inc. (NYSE:CAT)

Amarillo National Bank cut its holdings in Caterpillar Inc. (NYSE:CAT) by 15.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,267 shares of the industrial products company’s stock after selling 803 shares during the quarter. Amarillo National Bank’s holdings in Caterpillar were worth $1,564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. increased its stake in Caterpillar by 156.2% in the 3rd quarter. Alps Advisors Inc. now owns 27,384 shares of the industrial products company’s stock valued at $7,476,000 after purchasing an additional 16,694 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Caterpillar by 167.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 310,641 shares of the industrial products company’s stock valued at $84,805,000 after purchasing an additional 194,700 shares during the period. Evergreen Capital Management LLC increased its stake in shares of Caterpillar by 23.3% during the 3rd quarter. Evergreen Capital Management LLC now owns 3,149 shares of the industrial products company’s stock valued at $860,000 after acquiring an additional 595 shares during the last quarter. EHP Funds Inc. lifted its holdings in shares of Caterpillar by 71.2% during the 3rd quarter. EHP Funds Inc. now owns 3,800 shares of the industrial products company’s stock worth $1,037,000 after acquiring an additional 1,580 shares during the period. Finally, Legacy Advisors LLC boosted its position in shares of Caterpillar by 158.1% in the third quarter. Legacy Advisors LLC now owns 4,822 shares of the industrial products company’s stock worth $1,316,000 after acquiring an additional 2,954 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 0.9 %

NYSE CAT traded up $2.85 during trading on Thursday, reaching $330.61. The company’s stock had a trading volume of 1,352,181 shares, compared to its average volume of 3,422,689. The business has a 50-day moving average price of $338.37 and a 200-day moving average price of $330.08. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The stock has a market capitalization of $161.68 billion, a PE ratio of 14.93, a PEG ratio of 1.69 and a beta of 1.12. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. On average, research analysts forecast that Caterpillar Inc. will post 21.8 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio is currently 23.48%.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the sale, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the transaction, the insider now directly owns 71,115 shares in the company, valued at $25,380,943.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now directly owns 20,023 shares in the company, valued at $6,807,820. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CAT. Stifel Nicolaus lowered shares of Caterpillar from a “buy” rating to a “hold” rating and lifted their price target for the company from $293.00 to $350.00 in a report on Friday, April 26th. TD Cowen boosted their price target on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, April 26th. The Goldman Sachs Group raised their price objective on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Truist Financial started coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price for the company. Finally, HSBC boosted their price objective on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $329.63.

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.