Cadinha & Co. LLC Takes Position in Caterpillar Inc. $CAT

Key Points

• Cadinha & Co. LLC has recently acquired 55,013 shares of Caterpillar Inc. valued at approximately $21.36 million, making it the 11th largest position in their portfolio.
• Institutional investors now hold 70.98% of Caterpillar's stock, indicating strong confidence among major investment firms in the company.
• Caterpillar's latest quarterly earnings report showed an earnings per share of $4.72, which missed analysts' estimates by $0.16, despite revenue surpassing expectations at $16.57 billion.

Cadinha & Co. LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 55,013 shares of the industrial products company's stock, valued at approximately $21,357,000. Caterpillar makes up about 3.5% of Cadinha & Co. LLC's portfolio, making the stock its 11th biggest position.

Other hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC increased its stake in shares of Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company's stock valued at $2,833,836,000 after purchasing an additional 7,279,991 shares in the last quarter. Pacer Advisors Inc. increased its holdings 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 purchasing an additional 1,364,183 shares in the last quarter. Nuveen LLC purchased a new position in Caterpillar in the 1st quarter worth about $391,788,000. Assenagon Asset Management S.A. boosted its holdings in shares of Caterpillar by 546.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company's stock valued at $327,297,000 after acquiring an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Caterpillar by 9.1% during the first 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 purchasing an additional 268,300 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 firms have recently issued reports on CAT. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. JPMorgan Chase & Co. raised their target price on Caterpillar from $505.00 to $650.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Royal Bank Of Canada started coverage on shares of Caterpillar in a report on Wednesday. They set a "sector perform" rating and a $560.00 target price for the company. Finally, Robert W. Baird lifted their price target on shares of Caterpillar from $540.00 to $612.00 in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $518.19.

Caterpillar Price Performance

CAT stock opened at $517.05 on Thursday. The company's fifty day moving average price is $460.10 and its 200-day moving average price is $394.97. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. The company has a market capitalization of $242.23 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.99 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

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

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar's payout ratio is presently 30.72%.

Insider Buying and Selling at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,985 shares of company stock worth $25,559,300 over the last quarter. Insiders own 0.33% of the company's stock.

Caterpillar Company 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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.