Texas Capital Bancshares Inc TX Sells 968 Shares of Caterpillar Inc. $CAT

Texas Capital Bancshares Inc TX trimmed its position in Caterpillar Inc. (NYSE:CAT) by 34.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,827 shares of the industrial products company’s stock after selling 968 shares during the period. Caterpillar makes up approximately 0.3% of Texas Capital Bancshares Inc TX’s holdings, making the stock its 27th biggest holding. Texas Capital Bancshares Inc TX’s holdings in Caterpillar were worth $872,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pacific Point Advisors LLC purchased a new stake in Caterpillar in the fourth quarter valued at about $579,000. Brighton Jones LLC grew its stake in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares during the last quarter. United Bank grew its stake in shares of Caterpillar by 108.5% during the second quarter. United Bank now owns 4,083 shares of the industrial products company’s stock worth $1,585,000 after acquiring an additional 2,125 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Caterpillar by 3.9% during the second quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company’s stock valued at $3,551,000 after acquiring an additional 347 shares in the last quarter. Finally, ABN Amro Investment Solutions purchased a new position in shares of Caterpillar in the 2nd quarter valued at approximately $3,200,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Lange Bob De sold 22,656 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $720.11, for a total value of $16,314,812.16. Following the completion of the transaction, the insider owned 79,953 shares of the company’s stock, valued at $57,574,954.83. The trade was a 22.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph E. Creed sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $718.93, for a total value of $1,797,325.00. Following the completion of the sale, the chief executive officer owned 35,083 shares in the company, valued at $25,222,221.19. The trade was a 6.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 135,950 shares of company stock valued at $94,327,990 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CAT shares. Wells Fargo & Company boosted their target price on shares of Caterpillar from $756.00 to $870.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Argus raised their price target on shares of Caterpillar from $625.00 to $820.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Robert W. Baird set a $805.00 price objective on shares of Caterpillar in a report on Friday, January 30th. Jefferies Financial Group upped their target price on Caterpillar from $785.00 to $825.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, Wolfe Research raised their target price on Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Sixteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus target price of $730.50.

Caterpillar Stock Performance

CAT opened at $693.89 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $789.81. The firm has a 50 day moving average of $693.92 and a two-hundred day moving average of $583.93. The firm has a market capitalization of $322.86 billion, a PE ratio of 36.87, a P/E/G ratio of 1.65 and a beta of 1.54.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.67 by $0.49. The business had revenue of $19.13 billion for the quarter, compared to the consensus estimate of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $5.14 EPS. On average, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar 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.