Commerzbank Aktiengesellschaft FI Raises Stock Position in Caterpillar Inc. (NYSE:CAT)

Commerzbank Aktiengesellschaft FI boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1,389.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 162,817 shares of the industrial products company’s stock after purchasing an additional 151,884 shares during the quarter. Caterpillar comprises approximately 1.7% of Commerzbank Aktiengesellschaft FI’s holdings, making the stock its 18th biggest position. Commerzbank Aktiengesellschaft FI’s holdings in Caterpillar were worth $63,681,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Smallwood Wealth Investment Management LLC increased its stake in shares of Caterpillar by 2.6% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 26 shares in the last quarter. Pacifica Partners Inc. grew its position in Caterpillar by 1.6% in the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after acquiring an additional 28 shares during the period. Souders Financial Advisors increased its stake in Caterpillar by 0.8% during the second quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock worth $1,218,000 after acquiring an additional 29 shares during the last quarter. Hilltop National Bank raised its position in Caterpillar by 1.2% in the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after purchasing an additional 31 shares during the period. Finally, Procyon Advisors LLC lifted its stake in shares of Caterpillar by 0.3% in the 3rd quarter. Procyon Advisors LLC now owns 11,659 shares of the industrial products company’s stock valued at $4,560,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.3 %

Shares of NYSE:CAT opened at $387.20 on Wednesday. The company has a market cap of $189.36 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.85 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The firm’s 50-day simple moving average is $365.94 and its 200-day simple moving average is $350.37. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.55 EPS. As a group, equities research analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. 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 1.46%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly 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 link. Also, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now directly 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. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on CAT shares. Barclays boosted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Truist Financial upped their price objective on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Raymond James started coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Evercore ISI lowered their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $355.50.

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.