3Chopt Investment Partners LLC Buys Shares of 2,181 Caterpillar Inc. (NYSE:CAT)

3Chopt Investment Partners LLC acquired a new position in Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,181 shares of the industrial products company's stock, valued at approximately $719,000.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in Caterpillar during the fourth quarter worth $2,184,364,000. GAMMA Investing LLC raised its stake in shares of Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after acquiring an additional 3,721,693 shares in the last quarter. Capital Research Global Investors grew its holdings in Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after buying an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $353,231,000. Finally, Northern Trust Corp grew its stake in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after purchasing an additional 724,477 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Up 0.9%

Shares of Caterpillar stock traded up $3.30 on Friday, reaching $385.18. The company's stock had a trading volume of 4,445,249 shares, compared to its average volume of 2,521,036. The company has a market capitalization of $181.44 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 2.56 and a beta of 1.37. The firm's fifty day simple moving average is $342.13 and its two-hundred day simple moving average is $346.17. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business earned $5.60 earnings per share. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.57%. Caterpillar's payout ratio is 27.49%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Robert W. Baird raised their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Bank of America lifted their target price on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Evercore ISI cut their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Finally, Citigroup reaffirmed a "buy" rating and set a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and a consensus target price of $380.83.

About Caterpillar

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.