Aigen Investment Management LP Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Key Points

• Aigen Investment Management LP has made a new investment in Caterpillar Inc., acquiring 6,710 shares valued at approximately $2.2 million.
• The company recently reported quarterly earnings, missing estimates with an EPS of $4.72, while revenue rose to $16.57 billion, exceeding analyst expectations.
• Caterpillar has declared a quarterly dividend of $1.51 per share, reflecting a positive increase from the prior dividend of $1.41.

Aigen Investment Management LP acquired a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,710 shares of the industrial products company's stock, valued at approximately $2,213,000.

Several other hedge funds also recently made changes to their positions in the company. American Alpha Advisors LLC purchased a new position in shares of Caterpillar during the first quarter worth about $406,000. Entropy Technologies LP purchased a new position in shares of Caterpillar during the first quarter worth about $7,313,000. White Lighthouse Investment Management Inc. grew its holdings in shares of Caterpillar by 19.2% during the first quarter. White Lighthouse Investment Management Inc. now owns 3,041 shares of the industrial products company's stock worth $1,003,000 after buying an additional 490 shares during the last quarter. Covington Investment Advisors Inc. grew its holdings in shares of Caterpillar by 942.7% during the first quarter. Covington Investment Advisors Inc. now owns 15,380 shares of the industrial products company's stock worth $5,072,000 after buying an additional 13,905 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Caterpillar by 5.0% during the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock worth $1,036,211,000 after buying an additional 150,533 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Price Performance

CAT stock opened at $416.43 on Friday. The firm has a 50 day moving average of $393.37 and a 200-day moving average of $355.47. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 1.50. The company has a market cap of $195.09 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.46 and a beta of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the previous year, the business posted $5.99 earnings per share. Caterpillar's revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is 30.72%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Citigroup raised their price target on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Evercore ISI lowered their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus target price of $444.00.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.