Amundi reduced its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 28.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,554,870 shares of the industrial products company's stock after selling 611,217 shares during the quarter. Amundi owned approximately 0.33% of Caterpillar worth $475,417,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of CAT. GAMMA Investing LLC raised its position in 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 buying an additional 3,721,693 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after purchasing an additional 1,364,183 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Caterpillar during the 1st quarter valued at $391,788,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Caterpillar by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock valued at $1,429,416,000 after purchasing an additional 312,878 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Caterpillar during the 4th quarter valued at $108,958,000. 70.98% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. Oppenheimer decreased their target price on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Bank of America raised their target price on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and an average price target of $457.20.
Get Our Latest Report on CAT
Caterpillar Stock Performance
Shares of CAT stock traded down $5.01 on Tuesday, hitting $417.77. 561,606 shares of the stock were exchanged, compared to its average volume of 2,729,683. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $195.72 billion, a PE ratio of 21.24, a P/E/G ratio of 2.57 and a beta of 1.41. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15. The firm's 50 day moving average is $417.73 and its two-hundred day moving average is $363.12.
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 for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.99 EPS. Sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.
Caterpillar Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 30.72%.
Insiders Place Their Bets
In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,653 shares of company stock worth $8,943,642 in the last quarter. 0.33% of the stock is owned by company insiders.
About Caterpillar
(
Free Report)
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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