New York Life Investment Management LLC Raises Stock Holdings in Caterpillar Inc. $CAT

New York Life Investment Management LLC increased its position in Caterpillar Inc. (NYSE:CAT) by 0.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 64,136 shares of the industrial products company’s stock after purchasing an additional 55 shares during the period. New York Life Investment Management LLC’s holdings in Caterpillar were worth $24,898,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Trivium Point Advisory LLC boosted its holdings in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after acquiring an additional 7,125 shares in the last quarter. Palmer Knight Co bought a new stake in Caterpillar in the second quarter valued at $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after acquiring an additional 1,440 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new stake in Caterpillar in the first quarter valued at $427,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock worth $25,559,300 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $527.12 on Tuesday. The stock has a market cap of $246.95 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.98 and a beta of 1.46. The firm’s 50-day moving average is $466.75 and its 200 day moving average is $401.50. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.99 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a $1.51 dividend. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. Caterpillar’s payout ratio is presently 30.72%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CAT shares. Oppenheimer lifted their price target on shares of Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Bank of America boosted their target price on shares of Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, UBS Group boosted their target price on shares of Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $518.19.

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.