2,400 Shares in Caterpillar Inc. $CAT Acquired by 71 West Capital Partners

Key Points

• 71 West Capital Partners opened a new Caterpillar position in the fourth quarter, buying 2,400 shares worth about $1.375 million.
• Caterpillar reported a strong quarter, with EPS of $5.54 beating estimates and revenue of $17.42 billion, up 22.2% year over year.
• The company also raised its quarterly dividend to $1.63 per share, while analysts remain broadly positive with a Moderate Buy consensus and a target near the current share price.

71 West Capital Partners purchased a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,400 shares of the industrial products company's stock, valued at approximately $1,375,000.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $579,000. Brighton Jones LLC grew its holdings in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. United Bank grew its holdings in Caterpillar by 108.5% during the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company's stock valued at $1,585,000 after buying an additional 2,125 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in Caterpillar by 3.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company's stock valued at $3,551,000 after buying an additional 347 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Caterpillar by 6.5% during the 2nd quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company's stock valued at $222,120,000 after buying an additional 34,846 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Trading Up 2.5%

Shares of Caterpillar stock opened at $933.46 on Tuesday. Caterpillar Inc. has a fifty-two week low of $356.96 and a fifty-two week high of $946.83. The firm has a market cap of $429.94 billion, a PE ratio of 46.46, a P/E/G ratio of 1.80 and a beta of 1.59. The business's fifty day moving average is $856.17 and its two-hundred day moving average is $730.40. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same quarter in the prior year, the company posted $4.25 EPS. The business's revenue for the quarter was up 22.2% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 24.62 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, July 20th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Caterpillar's previous quarterly dividend of $1.51. Caterpillar's dividend payout ratio is currently 30.06%.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 15,674 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total value of $14,399,860.54. Following the transaction, the chief financial officer directly owned 52,935 shares of the company's stock, valued at approximately $48,631,913.85. This trade represents a 22.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 24,222 shares of the firm's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total value of $22,354,968.24. Following the completion of the transaction, the insider directly owned 86,029 shares in the company, valued at $79,397,884.68. This trade represents a 21.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 95,773 shares of company stock worth $87,642,635. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CAT shares. Zacks Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. Rothschild & Co Redburn increased their target price on Caterpillar from $700.00 to $950.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Wells Fargo & Company increased their target price on Caterpillar from $960.00 to $1,050.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Oppenheimer set a $980.00 target price on Caterpillar and gave the company an "outperform" rating in a report on Friday, May 1st. Finally, Argus increased their target price on Caterpillar from $820.00 to $990.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus price target of $933.27.

About Caterpillar

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.

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