AlphaQuest LLC Acquires 7,126 Shares of Caterpillar Inc. $CAT

Key Points

• AlphaQuest LLC significantly increased its holdings in Caterpillar Inc. by 411.2% during the first quarter, now owning 8,859 shares valued at approximately $2.92 million.
• Several large investors, including GAMMA Investing LLC, made substantial purchases, with GAMMA increasing its position by 43,447.3% to over 3.73 million shares valued at about $1.23 billion.
• Caterpillar's quarterly earnings report showed an EPS of $4.72, missing estimates by $0.16, while it maintained a strong dividend with an increase to $1.51 per share.

AlphaQuest LLC increased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 411.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,859 shares of the industrial products company's stock after acquiring an additional 7,126 shares during the quarter. Caterpillar comprises about 0.3% of AlphaQuest LLC's investment portfolio, making the stock its 23rd biggest position. AlphaQuest LLC's holdings in Caterpillar were worth $2,922,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CAT. Investment Management Corp VA ADV bought a new position in Caterpillar in the 4th quarter worth $33,000. Curat Global LLC bought a new stake in Caterpillar in the first quarter valued at about $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar in the first quarter valued at about $33,000. Quarry LP acquired a new position in Caterpillar in the fourth quarter valued at about $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Caterpillar in the fourth quarter valued at about $36,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Trading Down 0.8%

NYSE:CAT traded down $3.32 during trading hours on Monday, hitting $432.35. The stock had a trading volume of 1,857,786 shares, compared to its average volume of 2,776,359. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a market cap of $202.55 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 2.60 and a beta of 1.40. The business's 50 day moving average is $407.11 and its 200-day moving average is $358.23.

Caterpillar (NYSE:CAT - Get Free Report) last issued its 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the previous year, the company posted $5.99 EPS. The firm's revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were issued a dividend of $1.51 per share. The ex-dividend date was 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 1.4%. Caterpillar's dividend payout ratio is currently 30.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CAT shares. Citigroup boosted 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, August 6th. Robert W. Baird boosted their price target on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, UBS Group upgraded shares of 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 report on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $450.87.

Insider Buying and Selling at Caterpillar

In related 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 transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Corporate 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.