Texas Capital Bancshares Inc TX Cuts Stock Holdings in Caterpillar Inc. $CAT

Texas Capital Bancshares Inc TX reduced its position in Caterpillar Inc. (NYSE:CAT) by 34.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,827 shares of the industrial products company’s stock after selling 968 shares during the period. Caterpillar comprises about 0.3% of Texas Capital Bancshares Inc TX’s portfolio, making the stock its 27th biggest holding. Texas Capital Bancshares Inc TX’s holdings in Caterpillar were worth $872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marquette Asset Management LLC increased its holdings in Caterpillar by 1,060.0% in the third quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after buying an additional 53 shares in the last quarter. Joseph Group Capital Management purchased a new stake in shares of Caterpillar during the 3rd quarter worth about $32,000. Kilter Group LLC acquired a new stake in shares of Caterpillar during the 2nd quarter valued at about $27,000. Sellwood Investment Partners LLC purchased a new position in shares of Caterpillar in the 3rd quarter valued at about $35,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Caterpillar in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Sanford C. Bernstein reiterated a “market perform” rating and set a $678.00 price target on shares of Caterpillar in a research report on Friday, January 30th. Bank of America boosted their price objective on Caterpillar from $735.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Argus increased their target price on Caterpillar from $625.00 to $820.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. HSBC lifted their price target on shares of Caterpillar from $660.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, Rothschild & Co Redburn upped their price objective on shares of Caterpillar from $650.00 to $700.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

Caterpillar Price Performance

CAT stock opened at $693.89 on Friday. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $789.81. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94. The firm has a market capitalization of $322.86 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.54. The business has a 50 day simple moving average of $693.92 and a 200-day simple moving average of $583.93.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.49. The firm had revenue of $19.13 billion for the quarter, compared to the consensus estimate of $17.81 billion. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $5.14 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other news, CEO Joseph E. Creed sold 2,500 shares of Caterpillar stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $718.93, for a total transaction of $1,797,325.00. Following the transaction, the chief executive officer owned 35,083 shares in the company, valued at $25,222,221.19. The trade was a 6.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $575.06, for a total transaction of $5,750,600.00. Following the completion of the sale, the chief financial officer directly owned 45,460 shares of the company’s stock, valued at $26,142,227.60. This represents a 18.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 135,950 shares of company stock worth $94,327,990. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.