Texas Capital Bank Wealth Management Services Inc Acquires 1,376 Shares of Caterpillar Inc. $CAT

Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,568 shares of the industrial products company’s stock after purchasing an additional 1,376 shares during the period. Caterpillar comprises approximately 0.9% of Texas Capital Bank Wealth Management Services Inc’s holdings, making the stock its 26th largest holding. Texas Capital Bank Wealth Management Services Inc’s holdings in Caterpillar were worth $10,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kilter Group LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC raised its holdings in shares of Caterpillar by 1,060.0% during the third quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 53 shares in the last quarter. RiverPark Advisors LLC purchased a new stake in Caterpillar in the second quarter worth $32,000. Joseph Group Capital Management purchased a new stake in Caterpillar in the third quarter worth $32,000. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in Caterpillar by 107.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 89 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.0%

Shares of Caterpillar stock opened at $693.89 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94. The company has a 50-day moving average of $693.92 and a 200 day moving average of $583.93. The firm has a market cap of $322.86 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 1.65 and a beta of 1.54. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $789.81.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.67 by $0.49. The business had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. Caterpillar’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.14 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research reports. Jefferies Financial Group upped their price objective on shares of Caterpillar from $785.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Daiwa Securities Group lifted their target price on shares of Caterpillar from $640.00 to $790.00 in a research note on Wednesday, February 25th. Raymond James Financial reiterated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. CICC Research assumed coverage on shares of Caterpillar in a report on Friday, February 6th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Company lifted their price objective on Caterpillar from $756.00 to $870.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $730.50.

Insider Buying and Selling at Caterpillar

In other news, insider Denise C. Johnson sold 39,138 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $681.08, for a total value of $26,656,109.04. Following the sale, the insider directly owned 43,350 shares of the company’s stock, valued at $29,524,818. The trade was a 47.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 10,671 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $680.45, for a total value of $7,261,081.95. Following the completion of the sale, the insider owned 41,151 shares in the company, valued at $28,001,197.95. The trade was a 20.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 135,950 shares of company stock valued at $94,327,990. 0.33% of the stock is currently owned by company insiders.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.