TBH Global Asset Management LLC Purchases 67 Shares of Caterpillar Inc. (NYSE:CAT)

TBH Global Asset Management LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,445 shares of the industrial products company’s stock after buying an additional 67 shares during the period. TBH Global Asset Management LLC’s holdings in Caterpillar were worth $896,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Partnership Wealth Management LLC acquired a new position in Caterpillar during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new position in shares of Caterpillar in the 4th quarter worth $27,000. Thompson Investment Management Inc. bought a new position in shares of Caterpillar in the first quarter valued at $27,000. Fairman Group LLC acquired a new position in Caterpillar during the 1st quarter valued at about $29,000. Finally, Gilfoyle & Co LLC purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.5 %

NYSE:CAT traded down $1.77 during midday trading on Thursday, reaching $356.03. 3,677,729 shares of the stock traded hands, compared to its average volume of 2,723,823. The stock has a market capitalization of $174.12 billion, a P/E ratio of 16.07, a PEG ratio of 1.86 and a beta of 1.12. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The company has a fifty day moving average of $337.81 and a 200 day moving average of $333.21. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. On average, research analysts predict that Caterpillar Inc. will post 21.74 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a $1.41 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Caterpillar announced that its board has authorized a share buyback 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 repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAT. Citigroup started coverage on Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Finally, StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Hold” and an average price target of $329.63.

Insider Activity

In related news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,863 shares of company stock valued at $8,837,714. Company insiders own 0.33% of the company’s stock.

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.