Caterpillar Inc. (NYSE:CAT) Shares Acquired by Railway Pension Investments Ltd

Railway Pension Investments Ltd increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 111,000 shares of the industrial products company’s stock after buying an additional 900 shares during the quarter. Railway Pension Investments Ltd’s holdings in Caterpillar were worth $40,674,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Caterpillar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after acquiring an additional 129,216 shares during the period. Capital World Investors grew its holdings in Caterpillar by 0.3% in the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after purchasing an additional 96,479 shares during the period. Fisher Asset Management LLC increased its position in shares of Caterpillar by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after buying an additional 179,908 shares in the last quarter. Norges Bank acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $1,660,560,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Caterpillar by 19.4% during the 4th 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 buying an additional 529,420 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related 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 directly owns 20,023 shares in the company, valued at $6,807,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $7,797,194.30. Following the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction 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 sold 24,863 shares of company stock worth $8,837,714 in the last 90 days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

CAT has been the subject of several recent analyst reports. Citigroup began coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective for the company. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $293.00 to $350.00 in a report on Friday, April 26th. TD Cowen increased their target price on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, The Goldman Sachs Group lifted their price target 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, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average price target of $335.00.

Caterpillar Trading Down 3.2 %

Shares of CAT stock traded down $10.65 on Friday, hitting $320.87. 4,246,740 shares of the stock traded hands, compared to its average volume of 2,804,071. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The stock has a market capitalization of $156.92 billion, a PE ratio of 14.49, a PEG ratio of 1.72 and a beta of 1.12. The firm’s 50-day moving average price is $334.71 and its two-hundred day moving average price is $337.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35.

Caterpillar declared that its board has approved a share repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Caterpillar Increases Dividend

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

Caterpillar 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.