Strategic Wealth Partners Ltd. Buys New Stake in Caterpillar Inc. (NYSE:CAT)

Strategic Wealth Partners Ltd. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,104 shares of the industrial products company’s stock, valued at approximately $405,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Caterpillar in the fourth quarter worth $1,660,560,000. International Assets Investment Management LLC grew its position in Caterpillar by 28,603.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after buying an additional 1,488,813 shares during the period. Capital Wealth Planning LLC lifted its holdings in Caterpillar by 27,495.2% during the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after purchasing an additional 1,178,168 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Caterpillar by 19.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after purchasing an additional 529,420 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Caterpillar by 5,293.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock valued at $142,620,000 after purchasing an additional 473,416 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the sale, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The disclosure for this sale can be found here. Insiders sold 24,863 shares of company stock worth $8,837,714 over the last 90 days. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Raymond James started coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Citigroup started coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target for the company. Finally, Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and lifted their price target for the company from $293.00 to $350.00 in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $329.63.

Caterpillar Stock Down 3.2 %

Caterpillar stock traded down $10.67 during trading on Friday, reaching $320.85. The stock had a trading volume of 4,244,325 shares, compared to its average volume of 2,728,954. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The business has a 50 day moving average price of $335.27 and a 200 day moving average price of $337.03. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The stock has a market cap of $156.91 billion, a PE ratio of 14.44, a P/E/G ratio of 1.80 and a beta of 1.12.

Caterpillar announced that its board has approved a stock repurchase plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a $1.41 dividend. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.76%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is currently 25.46%.

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.