American Century Companies Inc. Has $197.30 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Key Points

• American Century Companies Inc. increased its holdings in Caterpillar Inc. by 16.3% during the first quarter, bringing its total to 598,234 shares valued at approximately $197.30 million.
• Caterpillar recently announced a dividend increase to $1.51 per share, payable on August 20th, representing an annualized yield of 1.5%.
• Analysts continue to display optimism towards Caterpillar, with target prices raised significantly; Bank of America increased its target from $460 to $495, maintaining a "buy" rating.

American Century Companies Inc. lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 598,234 shares of the industrial products company's stock after buying an additional 83,939 shares during the period. American Century Companies Inc. owned about 0.13% of Caterpillar worth $197,298,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Caterpillar by 8.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,644 shares of the industrial products company's stock worth $1,531,000 after buying an additional 350 shares during the last quarter. Brandywine Global Investment Management LLC boosted its stake in shares of Caterpillar by 17.6% during the 1st quarter. Brandywine Global Investment Management LLC now owns 597,249 shares of the industrial products company's stock worth $196,973,000 after buying an additional 89,432 shares during the last quarter. High Falls Advisors Inc boosted its stake in shares of Caterpillar by 1.2% during the 1st quarter. High Falls Advisors Inc now owns 4,974 shares of the industrial products company's stock worth $1,640,000 after buying an additional 59 shares during the last quarter. Aberdeen Group plc raised its holdings in shares of Caterpillar by 41.5% in the 1st quarter. Aberdeen Group plc now owns 416,760 shares of the industrial products company's stock valued at $136,689,000 after purchasing an additional 122,185 shares during the period. Finally, Horizon Investments LLC raised its holdings in shares of Caterpillar by 2.6% in the 1st quarter. Horizon Investments LLC now owns 8,478 shares of the industrial products company's stock valued at $2,783,000 after purchasing an additional 211 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAT has been the topic of a number of research analyst reports. Bank of America upped their target price on shares of Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Truist Financial upped their target price on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Barclays upped their target price on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Finally, Melius raised shares of 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. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $444.00.

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $407.41 on Friday. The company's 50 day simple moving average is $399.63 and its 200 day simple moving average is $356.18. The stock has a market capitalization of $190.86 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share 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 during the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the prior year, the business earned $5.99 EPS. The business's quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

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

Caterpillar Profile

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.

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