Commerce Bank Acquires 11,498 Shares of Caterpillar Inc. (NYSE:CAT)

Commerce Bank lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 8.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 142,698 shares of the industrial products company's stock after buying an additional 11,498 shares during the period. Commerce Bank's holdings in Caterpillar were worth $55,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in shares of Caterpillar in the 3rd quarter worth approximately $7,288,000. West Family Investments Inc. lifted its stake in Caterpillar by 10.5% during the third quarter. West Family Investments Inc. now owns 1,701 shares of the industrial products company's stock valued at $665,000 after purchasing an additional 162 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Caterpillar by 1.8% during the third quarter. PNC Financial Services Group Inc. now owns 413,719 shares of the industrial products company's stock valued at $161,814,000 after purchasing an additional 7,118 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Caterpillar during the third quarter valued at approximately $54,997,000. Finally, Banque Cantonale Vaudoise lifted its position in shares of Caterpillar by 21.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 27,845 shares of the industrial products company's stock valued at $10,892,000 after acquiring an additional 4,986 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In related news, insider Anthony D. Fassino sold 3,185 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company's stock, valued at $11,750,181.12. This represents a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company's stock, valued at $962,272.78. This trade represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 23,749 shares of company stock worth $9,251,912. Insiders own 0.29% of the company's stock.

Caterpillar Trading Down 0.6 %

Shares of NYSE:CAT traded down $2.41 during trading on Wednesday, hitting $379.92. 876,098 shares of the company's stock were exchanged, compared to its average volume of 2,598,071. Caterpillar Inc. has a 1-year low of $241.81 and a 1-year high of $418.50. The firm has a 50-day moving average price of $383.83 and a two-hundred day moving average price of $355.03. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The firm has a market cap of $183.43 billion, a P/E ratio of 17.65, a PEG ratio of 1.90 and a beta of 1.10.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period in the previous year, the business earned $5.52 EPS. The firm's revenue was down 4.2% compared to the same quarter last year. Equities analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.48%. Caterpillar's dividend payout ratio (DPR) is presently 26.15%.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Barclays upped their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 7th. Bank of America upped their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Morgan Stanley lowered shares of Caterpillar from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $349.00 to $332.00 in a research note on Monday, October 14th. Truist Financial increased their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, UBS Group increased their price target on shares of Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $365.33.

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.