Amundi Lowers Position in Caterpillar Inc. $CAT

Key Points

• Amundi has reduced its stake in Caterpillar Inc. by 28.2%, selling 611,217 shares during the 1st quarter, resulting in holdings of approximately $475 million.
• Analysts have recently upgraded their ratings on Caterpillar, with Melius Research setting a price target of $500, reflecting a positive outlook amid fluctuating stock performance.
• Caterpillar has announced an increase in its quarterly dividend to $1.51 per share, representing a yield of 1.5% and an annualized payout of $6.04.

Amundi trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 28.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. McIlrath & Eck LLC grew its position in Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after acquiring an additional 30 shares during the last quarter. Allen Wealth Management LLC raised its position in Caterpillar by 0.8% during the 1st quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock valued at $1,322,000 after purchasing an additional 30 shares during the last quarter. Warwick Investment Management Inc. raised its position in Caterpillar by 2.6% during the 1st quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock valued at $385,000 after purchasing an additional 30 shares during the last quarter. Summit X LLC raised its position in Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after purchasing an additional 32 shares during the last quarter. Finally, Menard Financial Group LLC raised its position in Caterpillar by 1.0% during the 1st quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock valued at $1,019,000 after purchasing an additional 32 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. DA Davidson upped their price target on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Truist Financial upped their price target on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Citigroup upped their price target on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. 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. Finally, JPMorgan Chase & Co. increased their target price on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $457.20.

Insider Buying and Selling at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction on 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 approximately $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,653 shares of company stock worth $8,943,642. Insiders own 0.33% of the company's stock.

Caterpillar Stock Up 0.7%

CAT traded up $2.87 during trading on Friday, hitting $423.09. 1,843,217 shares of the company's stock traded hands, compared to its average volume of 2,741,062. The company's 50 day simple moving average is $417.05 and its two-hundred day simple moving average is $362.44. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The stock has a market capitalization of $198.21 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.57 and a beta of 1.41.

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

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st were paid a dividend of $1.51 per share. The ex-dividend date was Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.4%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. 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.