Caterpillar Inc. $CAT Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC grew its holdings in Caterpillar Inc. (NYSE:CAT) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,532 shares of the industrial products company’s stock after purchasing an additional 7,392 shares during the quarter. Gabelli Funds LLC’s holdings in Caterpillar were worth $74,765,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Axxcess Wealth Management LLC boosted its holdings in shares of Caterpillar by 2.8% during the fourth quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock worth $12,844,000 after purchasing an additional 604 shares during the last quarter. Juno Financial Group LLC acquired a new position in Caterpillar in the fourth quarter valued at $877,000. DSG Capital Advisors LLC acquired a new position in Caterpillar in the first quarter valued at $1,226,000. Cornerstone Planning LLC purchased a new position in Caterpillar during the fourth quarter worth about $4,517,000. Finally, Ticino Wealth acquired a new stake in Caterpillar in the 4th quarter worth about $2,488,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Denise C. Johnson sold 12,605 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total value of $11,444,205.55. Following the transaction, the insider owned 49,825 shares of the company’s stock, valued at approximately $45,236,615.75. This trade represents a 20.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction on Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the transaction, the insider owned 46,041 shares in the company, valued at $42,210,388.80. The trade was a 26.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 95,773 shares of company stock valued at $87,642,635. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $889.23 on Friday. The company has a market cap of $409.57 billion, a price-to-earnings ratio of 44.26, a price-to-earnings-growth ratio of 1.75 and a beta of 1.57. Caterpillar Inc. has a 12 month low of $405.46 and a 12 month high of $1,073.46. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. The stock’s 50-day moving average is $928.88 and its 200-day moving average is $804.12.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. The business had revenue of $17.41 billion during the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.25 EPS. Equities analysts anticipate that Caterpillar Inc. will post 24.87 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be paid a dividend of $1.63 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, July 20th. Caterpillar’s payout ratio is presently 32.45%.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. UBS Group reiterated a “neutral” rating and set a $900.00 price objective on shares of Caterpillar in a report on Tuesday, June 2nd. Zacks Research downgraded shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Robert W. Baird upped their price target on shares of Caterpillar from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. Finally, Jefferies Financial Group increased their price target on shares of Caterpillar from $900.00 to $1,045.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Fifteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $980.57.

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.