APG Asset Management N.V. Acquires 27,519 Shares of Caterpillar Inc. $CAT

Key Points

• APG Asset Management N.V. increased its holdings in Caterpillar Inc. by 6.2%, acquiring an additional 27,519 shares, bringing its total ownership to 468,160 shares valued at approximately $142.9 million.
• Caterpillar recently increased its quarterly dividend from $1.41 to $1.51 per share, marking a positive change with a current dividend yield of 1.4%.
• Despite reporting a miss on earnings per share for the last quarter, Caterpillar's revenue of $16.57 billion exceeded expectations, showing resilience in its financial performance.

APG Asset Management N.V. grew its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 468,160 shares of the industrial products company's stock after purchasing an additional 27,519 shares during the period. APG Asset Management N.V. owned about 0.10% of Caterpillar worth $142,936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. GAMMA Investing LLC boosted its stake in shares of 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 worth $1,230,239,000 after buying an additional 3,721,693 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after buying an additional 1,364,183 shares during the last quarter. Nuveen LLC purchased a new position in shares of Caterpillar in the 1st quarter worth $391,788,000. Northern Trust Corp boosted its stake in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after buying an additional 724,477 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Caterpillar by 8.6% in 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 worth $1,429,416,000 after buying an additional 312,878 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Up 4.1%

Shares of CAT stock opened at $435.0040 on Friday. 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 0.81 and a debt-to-equity ratio of 1.50. The stock's 50-day moving average price is $405.71 and its 200-day moving average price is $357.81. The stock has a market capitalization of $203.79 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40.

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 (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same period last year, the firm posted $5.99 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend was Monday, July 21st. Caterpillar's payout ratio is presently 30.72%.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

CAT has been the topic of a number of research reports. DA Davidson raised their price target on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. lifted 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. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Truist Financial lifted their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and a consensus target price of $450.87.

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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