Caterpillar Inc. $CAT Holdings Raised by ZEGA Investments LLC

ZEGA Investments LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 149.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,184 shares of the industrial products company’s stock after purchasing an additional 2,508 shares during the quarter. ZEGA Investments LLC’s holdings in Caterpillar were worth $1,996,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAT. Norges Bank acquired a new position in Caterpillar during the 2nd quarter worth $2,165,899,000. Groupe la Francaise boosted its position in shares of Caterpillar by 82.0% in the second quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock valued at $10,820,000 after acquiring an additional 12,278 shares during the period. Trivium Point Advisory LLC raised its stake in Caterpillar by 132.9% during the 2nd quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after purchasing an additional 1,099 shares during the last quarter. Union Bancaire Privee UBP SA boosted its holdings in Caterpillar by 155.9% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock valued at $21,014,000 after purchasing an additional 28,773 shares during the period. Finally, Palmer Knight Co acquired a new stake in Caterpillar in the 2nd quarter worth $5,884,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 1.9%

Shares of NYSE:CAT opened at $629.52 on Tuesday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $630.98. The company’s 50-day moving average price is $580.50 and its two-hundred day moving average price is $496.54. The firm has a market cap of $294.60 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.39 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. The business had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. Caterpillar’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $5.17 earnings per share. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Tuesday, January 20th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, January 20th. Caterpillar’s payout ratio is 31.01%.

Analyst Ratings Changes

CAT has been the subject of several recent research reports. Morgan Stanley upped their price target on Caterpillar from $380.00 to $395.00 and gave the company an “underweight” rating in a report on Wednesday, December 10th. Jefferies Financial Group lifted their target price on shares of Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Bank of America raised their price target on shares of Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wells Fargo & Company assumed coverage on Caterpillar in a research note on Thursday, November 13th. They issued an “overweight” rating and a $675.00 price objective on the stock. Finally, Citigroup reiterated a “buy” rating on shares of Caterpillar in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $618.70.

Insiders Place Their Bets

In other Caterpillar news, CAO William E. Schaupp sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the transaction, the chief accounting officer directly owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. This trade represents a 47.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $575.06, for a total transaction of $5,750,600.00. Following the sale, the chief financial officer owned 45,460 shares of the company’s stock, valued at $26,142,227.60. The trade was a 18.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,729 shares of company stock valued at $31,084,308 over the last three months. 0.33% of the stock is owned by insiders.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.