Cullen Frost Bankers Inc. Sells 1,060 Shares of Caterpillar Inc. (NYSE:CAT)

Cullen Frost Bankers Inc. cut its stake in Caterpillar Inc. (NYSE:CAT) by 8.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,846 shares of the industrial products company’s stock after selling 1,060 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Caterpillar were worth $3,502,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Gilfoyle & Co LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at about $30,000. Fortitude Family Office LLC bought a new stake in Caterpillar during the 4th quarter worth approximately $39,000. Authentikos Wealth Advisory LLC purchased a new stake in Caterpillar in the 3rd quarter worth approximately $41,000. DiNuzzo Private Wealth Inc. bought a new position in Caterpillar in the 4th quarter valued at $41,000. Finally, Rational Advisors LLC bought a new position in shares of Caterpillar in the third quarter worth $42,000. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. HSBC lifted their target price on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Robert W. Baird boosted their target price on Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. Truist Financial initiated coverage on Caterpillar in a research note on Thursday, March 14th. They set a “buy” rating and a $390.00 price objective for the company. Finally, The Goldman Sachs Group increased their target price on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average target price of $323.35.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan bought 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the completion of the transaction, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Maclennan bought 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $346.54 on Thursday. The firm’s 50 day moving average price is $352.87 and its 200-day moving average price is $305.22. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $169.48 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19. Caterpillar Inc. has a twelve month low of $205.60 and a twelve month high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Equities research analysts expect that Caterpillar Inc. will post 21.79 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.50%. Caterpillar’s payout ratio is 23.48%.

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.