Caterpillar Inc. $CAT Shares Acquired by Nomura Asset Management Co. Ltd.

Key Points

• Nomura Asset Management boosted its Caterpillar stake by 10.5% in the fourth quarter, buying 29,681 additional shares and bringing its total holding to 313,622 shares valued at about $179.7 million.
• Caterpillar reported better-than-expected quarterly results, earning $5.54 per share on revenue of $17.42 billion, both above analyst estimates and up 22.2% from a year earlier.
• Analyst sentiment remains constructive, with several firms raising price targets; Caterpillar now has a Moderate Buy consensus and an average target price of $923.14, while insiders have also been selling shares recently.

Nomura Asset Management Co. Ltd. increased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 313,622 shares of the industrial products company's stock after buying an additional 29,681 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.07% of Caterpillar worth $179,665,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CAT. Torren Management LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at about $27,000. Frazier Financial Advisors LLC grew its stake in shares of Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock valued at $28,000 after buying an additional 33 shares in the last quarter. IFS Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at about $31,000. Rialto Wealth Management LLC grew its stake in shares of Caterpillar by 47.4% in the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company's stock valued at $32,000 after buying an additional 18 shares in the last quarter. Finally, Noble Wealth Management PBC grew its stake in shares of Caterpillar by 140.0% in the fourth quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company's stock valued at $34,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Trading Down 1.7%

Shares of NYSE CAT opened at $872.61 on Friday. The stock's 50 day moving average price is $811.10 and its two-hundred day moving average price is $702.31. Caterpillar Inc. has a 52-week low of $339.50 and a 52-week high of $931.35. The stock has a market capitalization of $401.92 billion, a P/E ratio of 43.43, a PEG ratio of 1.73 and a beta of 1.63. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. The business had revenue of $17.42 billion for the quarter, compared to analysts' expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.25 EPS. On average, analysts anticipate that Caterpillar Inc. will post 24.67 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, April 20th. Caterpillar's dividend payout ratio is presently 30.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CAT shares. Robert W. Baird increased their target price on Caterpillar from $940.00 to $1,165.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. DA Davidson boosted their price target on Caterpillar from $650.00 to $845.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Morgan Stanley set a $915.00 price target on Caterpillar and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Jefferies Financial Group boosted their price target on Caterpillar from $900.00 to $1,045.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Finally, Citigroup boosted their price target on Caterpillar from $905.00 to $1,020.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $923.14.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 16,283 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the sale, the insider directly owned 46,041 shares in the company, valued at approximately $42,210,388.80. This represents a 26.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 360 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total value of $326,160.00. Following the sale, the chief accounting officer owned 530 shares in the company, valued at $480,180. The trade was a 40.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 98,273 shares of company stock worth $89,439,960. Corporate insiders own 0.33% of the company's stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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