Natixis Advisors LLC Acquires 9,321 Shares of Caterpillar Inc. (NYSE:CAT)

Natixis Advisors LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 278,259 shares of the industrial products company’s stock after acquiring an additional 9,321 shares during the quarter. Natixis Advisors LLC owned 0.06% of Caterpillar worth $92,688,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Axxcess Wealth Management LLC lifted its holdings in shares of Caterpillar by 20.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 21,343 shares of the industrial products company’s stock worth $6,310,000 after purchasing an additional 3,558 shares during the period. Acadian Asset Management LLC increased its stake in Caterpillar by 17.2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after purchasing an additional 1,327 shares in the last quarter. Catalyst Financial Partners LLC increased its position in shares of Caterpillar by 1.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 4,295 shares of the industrial products company’s stock worth $1,270,000 after acquiring an additional 63 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in Caterpillar during the first quarter worth about $926,000. Finally, Aigen Investment Management LP purchased a new position in Caterpillar in the fourth quarter valued at about $222,000. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on CAT shares. Barclays upped their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. Evercore ISI decreased their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Citigroup initiated coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $336.31.

Caterpillar Trading Up 1.3 %

Shares of NYSE:CAT traded up $4.46 on Friday, hitting $356.10. The company had a trading volume of 2,974,052 shares, compared to its average volume of 2,369,276. The firm’s 50-day simple moving average is $338.84 and its two-hundred day simple moving average is $342.75. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $172.67 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.66 and a beta of 1.12.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same period last year, the business earned $5.55 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post 21.87 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.58%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Caterpillar declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the transaction, the insider now directly owns 18,515 shares in the company, valued at approximately $6,480,250. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

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.