Community Bank & Trust Waco Texas Has $8.61 Million Position in Caterpillar Inc. (NYSE:CAT)

Community Bank & Trust Waco Texas lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,853 shares of the industrial products company’s stock after purchasing an additional 46 shares during the quarter. Caterpillar accounts for 2.1% of Community Bank & Trust Waco Texas’ portfolio, making the stock its 13th largest position. Community Bank & Trust Waco Texas’ holdings in Caterpillar were worth $8,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Partnership Wealth Management LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new stake in Caterpillar in the 4th quarter valued at $27,000. Thompson Investment Management Inc. bought a new position in Caterpillar during the 1st quarter worth about $27,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the 2nd quarter valued at about $28,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Caterpillar during the second quarter worth about $28,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CAT shares. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Raymond James assumed coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Barclays boosted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Evercore ISI lowered their target price on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Bank of America decreased their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $336.31.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the sale, the insider now owns 18,515 shares in the company, valued at $6,480,250. The disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 in the last ninety days. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

CAT stock traded down $2.24 during midday trading on Wednesday, reaching $338.00. 271,312 shares of the company were exchanged, compared to its average volume of 2,667,972. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The firm has a market capitalization of $165.30 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.66 and a beta of 1.12. The business has a 50-day moving average price of $339.62 and a two-hundred day moving average price of $343.30. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping the consensus estimate of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.55 EPS. Equities research analysts forecast that Caterpillar Inc. will post 21.87 EPS for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were paid a dividend of $1.41 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Caterpillar announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Caterpillar

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.