Caterpillar Inc. $CAT Stock Position Trimmed by Minneapolis Portfolio Management Group LLC

Minneapolis Portfolio Management Group LLC cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 24.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,216 shares of the industrial products company’s stock after selling 22,076 shares during the quarter. Caterpillar comprises approximately 4.5% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 4th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in Caterpillar were worth $39,652,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CAT. Wellington Management Group LLP lifted its position in Caterpillar by 3,949.8% during the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock worth $2,494,568,000 after buying an additional 5,098,964 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Caterpillar by 573.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock worth $861,947,000 after purchasing an additional 1,281,087 shares during the period. Amundi raised its holdings in shares of Caterpillar by 24.3% in the 3rd quarter. Amundi now owns 2,375,710 shares of the industrial products company’s stock worth $1,176,870,000 after purchasing an additional 464,036 shares during the period. Vanguard Group Inc. raised its holdings in shares of Caterpillar by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company’s stock worth $26,572,681,000 after purchasing an additional 442,164 shares during the period. Finally, Alphinity Investment Management Pty Ltd purchased a new position in shares of Caterpillar in the 4th quarter worth about $252,204,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 5,642 shares of Caterpillar stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $883.03, for a total value of $4,982,055.26. Following the completion of the transaction, the insider owned 9,594 shares in the company, valued at approximately $8,471,789.82. This trade represents a 37.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the transaction, the insider owned 49,825 shares of the company’s stock, valued at approximately $45,236,615.75. The trade was a 20.19% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 98,273 shares of company stock worth $89,439,960. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAT. Jefferies Financial Group raised their price objective on Caterpillar from $900.00 to $1,045.00 and gave the stock a “buy” rating in a report on Friday, May 1st. HSBC raised their price objective on Caterpillar from $850.00 to $1,100.00 in a report on Tuesday, May 5th. Wells Fargo & Company raised their price objective on Caterpillar from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Rothschild & Co Redburn raised their price objective on Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Morgan Stanley set a $915.00 target price on Caterpillar and gave the company an “equal weight” rating in a research note on Friday, May 1st. Sixteen analysts have rated the stock with a Buy rating and nine have given 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 $923.14.

Caterpillar Price Performance

Shares of NYSE CAT opened at $865.95 on Tuesday. Caterpillar Inc. has a fifty-two week low of $339.50 and a fifty-two week high of $931.35. The business has a 50 day moving average price of $814.65 and a two-hundred day moving average price of $705.34. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $398.85 billion, a PE ratio of 43.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.59.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, beating analysts’ consensus estimates of $4.65 by $0.89. The firm had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.Caterpillar’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.25 EPS. Sell-side analysts expect that Caterpillar Inc. will post 24.67 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were given a $1.51 dividend. The ex-dividend date was Monday, April 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. Caterpillar’s dividend payout ratio (DPR) is presently 30.06%.

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.