Caterpillar Inc. (NYSE:CAT) Shares Acquired by Baldwin Investment Management LLC

Key Points

• Baldwin Investment Management LLC increased its stake in Caterpillar Inc. by 15.3%, acquiring an additional 1,195 shares, bringing its total holdings to 8,990 shares valued at approximately $2.96 million.
• Caterpillar reported earnings per share of $4.25 for the last quarter, missing estimates by $0.10, and experienced a 9.8% revenue decline year-over-year.
• The company announced a quarterly dividend increase to $1.51 per share, reflecting a 1.39% dividend yield, with the previous dividend set at $1.41.

Baldwin Investment Management LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 15.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,990 shares of the industrial products company's stock after buying an additional 1,195 shares during the period. Baldwin Investment Management LLC's holdings in Caterpillar were worth $2,965,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CAT. Mackenzie Financial Corp increased its position in shares of Caterpillar by 1.5% during the 1st quarter. Mackenzie Financial Corp now owns 173,302 shares of the industrial products company's stock valued at $57,155,000 after purchasing an additional 2,491 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV lifted its holdings in Caterpillar by 4.2% in the 1st quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 5,016 shares of the industrial products company's stock worth $1,654,000 after buying an additional 204 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in Caterpillar in the 1st quarter worth approximately $48,000. Carrera Capital Advisors lifted its stake in shares of Caterpillar by 12.6% in the 1st quarter. Carrera Capital Advisors now owns 1,394 shares of the industrial products company's stock valued at $460,000 after purchasing an additional 156 shares during the period. Finally, Richards Merrill & Peterson Inc. grew its holdings in shares of Caterpillar by 2.4% in the first quarter. Richards Merrill & Peterson Inc. now owns 3,712 shares of the industrial products company's stock worth $1,224,000 after acquiring an additional 86 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

NYSE:CAT traded up $4.14 during trading hours on Thursday, reaching $438.26. 1,661,582 shares of the company traded hands, compared to its average volume of 2,679,646. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The stock has a market cap of $206.44 billion, a P/E ratio of 21.32, a P/E/G ratio of 2.69 and a beta of 1.38. The firm's 50-day moving average is $382.09 and its 200-day moving average is $353.44. 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 announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business's quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $5.60 EPS. Equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share 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 dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.38%. Caterpillar's payout ratio is presently 29.43%.

Analysts Set New Price Targets

CAT has been the topic of several research analyst reports. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Robert W. Baird increased their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Melius Research raised 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. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Finally, Bank of America increased their target price on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Seven 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. According to MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and an average price target of $419.33.

Insider Buying and Selling

In other Caterpillar news, Director David Maclennan acquired 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the purchase, the director directly owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by corporate insiders.

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.