Simmons Bank Reduces Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Simmons Bank decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,414 shares of the industrial products company's stock after selling 1,340 shares during the quarter. Caterpillar makes up approximately 0.9% of Simmons Bank's portfolio, making the stock its 24th biggest position. Simmons Bank's holdings in Caterpillar were worth $12,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Bbjs Financial Advisors LLC purchased a new position in shares of Caterpillar in the second quarter valued at $28,000. Financial Connections Group Inc. bought a new position in Caterpillar in the 2nd quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar in the second quarter valued at about $36,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar during the 3rd quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC increased its stake in Caterpillar by 2,160.0% in the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company's stock worth $38,000 after purchasing an additional 108 shares during the period. Institutional investors own 70.98% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a research report on Thursday, October 31st. Evercore ISI cut Caterpillar from an "in-line" rating to an "underperform" rating and lifted their price target for the company from $321.00 to $365.00 in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Morgan Stanley cut Caterpillar from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, Bank of America boosted their price objective on Caterpillar from $376.00 to $434.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Caterpillar currently has a consensus rating of "Hold" and an average price target of $365.33.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now owns 33,442 shares of the company's stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,749 shares of company stock valued at $9,251,912 in the last ninety days. Insiders own 0.29% of the company's stock.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $5.94 on Wednesday, reaching $387.07. 1,976,557 shares of the company were exchanged, compared to its average volume of 2,621,394. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 1-year low of $241.81 and a 1-year high of $418.50. The firm has a market cap of $186.88 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. The company has a 50-day moving average of $378.67 and a 200-day moving average of $353.36.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS 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 business had revenue of $16.11 billion during the quarter, compared to analysts' expectations of $16.37 billion. During the same quarter in the prior year, the firm earned $5.52 earnings per share. Caterpillar's quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar's dividend payout ratio is currently 26.15%.

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.