Cullen Frost Bankers Inc. Acquires 82 Shares of Caterpillar Inc. $CAT

Cullen Frost Bankers Inc. grew its holdings in Caterpillar Inc. (NYSE:CAT) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,691 shares of the industrial products company’s stock after purchasing an additional 82 shares during the period. Cullen Frost Bankers Inc.’s holdings in Caterpillar were worth $3,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Valeo Financial Advisors LLC increased its holdings in shares of Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after purchasing an additional 7,279,991 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock worth $466,430,000 after buying an additional 1,364,183 shares during the last quarter. Nuveen LLC purchased a new position in shares of Caterpillar in the 1st quarter worth $391,788,000. Assenagon Asset Management S.A. boosted its stake in shares of Caterpillar by 546.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after buying an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after buying an additional 268,300 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CAT shares. Robert W. Baird raised their price target on Caterpillar from $540.00 to $612.00 in a research note on Monday. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a research note on Tuesday, August 19th. Jefferies Financial Group lifted their target price on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on Caterpillar from $505.00 to $650.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $518.19.

Caterpillar Trading Down 2.1%

CAT opened at $513.70 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a market cap of $240.66 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.99 and a beta of 1.46. The stock’s 50 day moving average price is $460.10 and its 200-day moving average price is $394.97. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $5.99 EPS. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is 30.72%.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,985 shares of company stock valued at $25,559,300 in the last quarter. 0.33% of the stock is currently 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.