11,607 Shares in Caterpillar Inc. $CAT Bought by Hayek Kallen Investment Management

Hayek Kallen Investment Management purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,607 shares of the industrial products company's stock, valued at approximately $12,360,000. Caterpillar makes up about 3.7% of Hayek Kallen Investment Management's portfolio, making the stock its 7th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Caterpillar in the 2nd quarter valued at about $40,457,153,000. Bank of America Corp DE acquired a new position in Caterpillar during the second quarter worth approximately $5,818,150,000. Diamant Asset Management Inc. raised its stake in Caterpillar by 68,427.2% in the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company's stock valued at $2,224,992,000 after buying an additional 3,136,020 shares during the period. Bank of New York Mellon Corp bought a new stake in Caterpillar in the second quarter valued at approximately $3,192,710,000. Finally, Legal & General Group Plc acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $2,783,451,000. Institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the transaction, the chief executive officer directly owned 34,555 shares of the company's stock, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an "overweight" rating in a report on Wednesday, June 17th. Oppenheimer reaffirmed an "outperform" rating and set a $1,118.00 price target on shares of Caterpillar in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price objective on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 23rd. UBS Group upped their price objective on shares of Caterpillar from $900.00 to $925.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada increased their price objective on shares of Caterpillar from $877.00 to $897.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $995.52.

Caterpillar Price Performance

Shares of NYSE CAT opened at $813.51 on Tuesday. The firm has a market cap of $373.95 billion, a P/E ratio of 35.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.60. The business's 50 day moving average is $868.12 and its 200-day moving average is $839.26. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Caterpillar Inc. has a 1-year low of $416.44 and a 1-year high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $1.95. The business had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The firm's quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.72 EPS. Equities research analysts predict that Caterpillar Inc. will post 27.34 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Monday, July 20th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. This is a boost from Caterpillar's previous quarterly dividend of $1.51. The ex-dividend date was Monday, July 20th. Caterpillar's dividend payout ratio is currently 28.06%.

Caterpillar Company 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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.