Caterpillar Inc. $CAT Shares Bought by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its position in Caterpillar Inc. by 45.5%, owning 397,852 shares valued at approximately $131.2 million.
• Insiders, including Director Susan C. Schwab and Jason Kaiser, recently sold shares, leading to significant decreases in their ownership.
• Caterpillar reported $4.72 earnings per share in its latest quarterly results, missing analysts' expectations by $0.16, but achieved a revenue of $16.57 billion which exceeded forecasts.

Canada Pension Plan Investment Board boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 45.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,852 shares of the industrial products company's stock after buying an additional 124,486 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.08% of Caterpillar worth $131,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. McIlrath & Eck LLC lifted its stake in Caterpillar by 3.2% in the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after purchasing an additional 30 shares in the last quarter. Allen Wealth Management LLC lifted its stake in Caterpillar by 0.8% in the 1st quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock worth $1,322,000 after purchasing an additional 30 shares in the last quarter. Warwick Investment Management Inc. lifted its stake in Caterpillar by 2.6% in the 1st quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock worth $385,000 after purchasing an additional 30 shares in the last quarter. Asset Management Group Inc. lifted its stake in Caterpillar by 0.3% in the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock worth $3,907,000 after purchasing an additional 32 shares in the last quarter. Finally, Summit X LLC raised its position in shares of Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after buying an additional 32 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CAT. Oppenheimer reduced their price target on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. Truist Financial lifted their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Barclays lifted their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. DA Davidson lifted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $457.20.

Insider Buying and Selling at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares of the company's stock, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock worth $8,943,642 over the last 90 days. Corporate insiders own 0.33% of the company's stock.

Caterpillar Stock Up 0.1%

Shares of NYSE:CAT traded up $0.38 during trading on Thursday, hitting $415.50. The company's stock had a trading volume of 459,205 shares, compared to its average volume of 2,745,899. The business has a 50 day moving average price of $415.51 and a two-hundred day moving average price of $361.45. The company has a market capitalization of $194.65 billion, a PE ratio of 21.14, a P/E/G ratio of 2.53 and a beta of 1.41. 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 Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15.

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

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st were paid a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, July 21st. Caterpillar's payout ratio is currently 30.72%.

About Caterpillar

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.