Bush Investment Group LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Bush Investment Group LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, Holdings Channel reports. The institutional investor purchased 630 shares of the industrial products company’s stock, valued at approximately $231,000. Caterpillar makes up approximately 0.2% of Bush Investment Group LLC’s portfolio, making the stock its 29th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Partnership Wealth Management LLC purchased a new stake in shares of Caterpillar in the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new stake in Caterpillar during the 4th quarter valued at $27,000. Thompson Investment Management Inc. bought a new position in shares of Caterpillar in the 1st quarter worth $27,000. Fairman Group LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth $29,000. Finally, Vima LLC bought a new stake in Caterpillar during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Caterpillar news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction dated 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 transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were 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 in the company, valued at $6,807,820. The disclosure for this sale can be found here. Insiders have sold 24,863 shares of company stock valued at $8,837,714 over the last ninety days. Insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT traded down $10.65 during trading on Friday, hitting $320.87. The company had a trading volume of 4,246,740 shares, compared to its average volume of 2,804,071. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. 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 fifty day simple moving average of $334.71 and a two-hundred day simple moving average of $337.59. The firm has a market capitalization of $156.92 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12.

Caterpillar announced that its Board of Directors has initiated a stock 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 purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Caterpillar Increases Dividend

The company also recently announced 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 represents a $5.64 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group increased their price target on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. HSBC upped their price target on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Raymond James assumed coverage on 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 note on Thursday, April 18th. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus target price of $335.00.

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.