Banco Bilbao Vizcaya Argentaria S.A. Buys 1,105 Shares of Caterpillar Inc. $CAT

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Caterpillar Inc. by 3.7% in the first quarter, bringing its total holdings to over $10 million worth of stock.
• Caterpillar recently announced a quarterly dividend increase to $1.51 per share, reflecting a 1.5% annual yield and a payout ratio of 30.72%.
• Several brokerages have upgraded their ratings on Caterpillar, with some setting new price targets, including an upgraded target of $476.00 from Evercore ISI.

Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,955 shares of the industrial products company's stock after purchasing an additional 1,105 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Caterpillar were worth $10,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Groupama Asset Managment grew its holdings in shares of Caterpillar by 6.3% during the first quarter. Groupama Asset Managment now owns 21,678 shares of the industrial products company's stock worth $7,147,000 after purchasing an additional 1,287 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of Caterpillar by 2.7% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 51,947 shares of the industrial products company's stock worth $17,132,000 after purchasing an additional 1,353 shares in the last quarter. Berkshire Asset Management LLC PA grew its holdings in shares of Caterpillar by 11.4% during the first quarter. Berkshire Asset Management LLC PA now owns 3,915 shares of the industrial products company's stock worth $1,269,000 after purchasing an additional 402 shares in the last quarter. CWS Financial Advisors LLC grew its holdings in shares of Caterpillar by 29.9% during the first quarter. CWS Financial Advisors LLC now owns 1,304 shares of the industrial products company's stock worth $430,000 after purchasing an additional 300 shares in the last quarter. Finally, Colonial Trust Advisors boosted its stake in Caterpillar by 0.4% in the first quarter. Colonial Trust Advisors now owns 17,145 shares of the industrial products company's stock worth $5,655,000 after buying an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Trading Up 4.1%

Shares of NYSE:CAT traded up $17.1140 during trading on Friday, reaching $435.0040. 3,784,363 shares of the company traded hands, compared to its average volume of 3,368,960. The firm has a market capitalization of $203.79 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.60 and a beta of 1.40. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week 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 business's fifty day moving average is $405.71 and its 200-day moving average is $357.80.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share 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 last year, the company posted $5.99 EPS. The business's revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were paid a $1.51 dividend. The ex-dividend date of this dividend was Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.4%. Caterpillar's payout ratio is currently 30.72%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CAT shares. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and upped their target price for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Barclays upped their target price on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. upped their target price on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Truist Financial upped their target price on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Bank of America upped their target price on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $450.87.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the 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 completion of the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 2,161 shares of the 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 of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. 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.