ASR Vermogensbeheer N.V. Takes Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• ASR Vermogensbeheer N.V. acquired 56,561 shares of Caterpillar Inc. valued at approximately $18.65 million in the first quarter, according to a recent SEC filing.
• Several institutional investors have increased their positions in Caterpillar, resulting in over 70% institutional ownership of the company's stock.
• Caterpillar recently announced a dividend increase from $1.41 to $1.51 per share, with a yield of 1.4%, set to be paid on August 20th.

ASR Vermogensbeheer N.V. acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 56,561 shares of the industrial products company's stock, valued at approximately $18,654,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Northern Trust Corp grew its position in Caterpillar by 11.8% in the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after acquiring an additional 724,477 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 purchasing an additional 312,878 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Caterpillar by 43,447.3% during 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 purchasing an additional 3,721,693 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock valued at $1,064,951,000 after buying an additional 268,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Caterpillar by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,181,535 shares of the industrial products company's stock worth $1,154,174,000 after buying an additional 82,579 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Down 2.5%

Shares of CAT stock traded down $10.65 during trading hours on Thursday, reaching $417.07. The company's stock had a trading volume of 4,260,195 shares, compared to its average volume of 2,880,540. 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 stock has a market capitalization of $196.46 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.69 and a beta of 1.40. The firm's fifty day simple moving average is $391.99 and its 200 day simple moving average is $355.63. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $16.14 billion. During the same period in the previous year, the firm posted $5.99 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is presently 29.43%.

Analyst Upgrades and Downgrades

Several research firms have commented on CAT. Barclays lifted their price target on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Citigroup upped their price target on shares of Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Finally, Evercore ISI lowered their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research note on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and a consensus target price of $444.00.

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.