American National Bank Purchases 460 Shares of Caterpillar Inc. (CAT)
American National Bank boosted its position in Caterpillar Inc. (NYSE:CAT) by 36.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,707 shares of the industrial products company’s stock after buying an additional 460 shares during the quarter. American National Bank’s holdings in Caterpillar were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC purchased a new position in shares of Caterpillar in the third quarter valued at $100,000. Sound Income Strategies LLC grew its position in shares of Caterpillar by 181.8% in the third quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 429 shares in the last quarter. Highwater Wealth Management LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at $105,000. St. Johns Investment Management Company LLC purchased a new position in shares of Caterpillar in the third quarter valued at $106,000. Finally, Providence Capital Advisors LLC purchased a new position in shares of Caterpillar in the third quarter valued at $118,000. 66.73% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on CAT shares. Robert W. Baird upgraded Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 price target for the company in a research report on Thursday, September 20th. OTR Global cut Caterpillar to a “positive” rating in a research report on Friday, September 21st. Citigroup upgraded Caterpillar to an “outperform” rating in a research report on Friday, September 21st. Macquarie set a $130.00 price target on Caterpillar and gave the company a “sell” rating in a research report on Tuesday, September 25th. Finally, Zacks Investment Research lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Caterpillar currently has a consensus rating of “Buy” and a consensus price target of $157.19.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.03. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The firm had revenue of $13.51 billion during the quarter, compared to analyst estimates of $13.28 billion. During the same quarter in the previous year, the company posted $1.95 earnings per share. The company’s revenue was up 18.4% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 11.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 20th. Shareholders of record on Tuesday, January 22nd will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, January 18th. Caterpillar’s dividend payout ratio (DPR) is currently 50.00%.
In other news, insider Lange Bob De purchased 1,080 shares of the company’s stock in a transaction on Friday, October 26th. The stock was purchased at an average price of $115.58 per share, with a total value of $124,826.40. Following the completion of the purchase, the insider now directly owns 11,310 shares in the company, valued at approximately $1,307,209.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.36% of the company’s stock.
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Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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