Catalina Capital Group LLC Raises Holdings in Caterpillar Inc. (NYSE:CAT)

Catalina Capital Group LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CATFree Report) by 84.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,244 shares of the industrial products company’s stock after acquiring an additional 1,030 shares during the period. Catalina Capital Group LLC’s holdings in Caterpillar were worth $822,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Partnership Wealth Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth about $26,000. Richardson Financial Services Inc. acquired a new position in Caterpillar in the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. acquired a new position in Caterpillar in the first quarter valued at approximately $27,000. Fairman Group LLC acquired a new position in Caterpillar in the first quarter valued at approximately $29,000. Finally, Gilfoyle & Co LLC acquired a new position in Caterpillar in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 0.7 %

NYSE:CAT traded up $2.33 during trading hours on Wednesday, hitting $328.39. The company had a trading volume of 2,904,385 shares, compared to its average volume of 2,692,612. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average of $337.33 and a 200 day moving average of $331.46. The company has a market cap of $160.60 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.70 and a beta of 1.12. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01.

Caterpillar (NYSE:CATGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. Sell-side analysts expect that Caterpillar Inc. will post 21.73 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.72%. Caterpillar’s dividend payout ratio is currently 23.48%.

Caterpillar announced that its board has initiated a share repurchase plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

CAT has been the subject of a number of analyst reports. HSBC boosted their price target on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday. Raymond James initiated coverage on Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group upped their target price on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $329.63.

Read Our Latest Analysis on Caterpillar

Insider Transactions at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the transaction, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the transaction, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lange Bob De sold 21,847 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the transaction, the insider now directly owns 71,115 shares in the company, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Caterpillar Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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