Caterpillar Inc. $CAT Shares Bought by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd increased its stake in Caterpillar Inc. by 6.2%, owning 30,458 shares worth approximately $10,045,000 after purchasing additional shares in Q1.
• Caterpillar reported $4.72 earnings per share (EPS), missing estimates, while revenue was slightly above expectations at $16.57 billion, but showed a 0.7% year-over-year decline.
• The company announced a quarterly dividend increase to $1.51 per share, representing an annualized dividend of $6.04 with a yield of 1.4%.

UniSuper Management Pty Ltd boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,458 shares of the industrial products company's stock after purchasing an additional 1,788 shares during the period. UniSuper Management Pty Ltd's holdings in Caterpillar were worth $10,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victrix Investment Advisors acquired a new position in Caterpillar during the fourth quarter valued at $2,090,000. Charles Schwab Investment Management Inc. raised its position in shares of Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after acquiring an additional 15,347 shares during the period. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar in the fourth quarter worth about $579,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Caterpillar by 18.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after acquiring an additional 30,070 shares during the period. Finally, Crestwood Advisors Group LLC raised its position in shares of Caterpillar by 3.4% in the first quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock worth $7,483,000 after acquiring an additional 743 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.7%

CAT stock opened at $423.09 on Monday. The stock has a market capitalization of $198.21 billion, a P/E ratio of 21.52, a P/E/G ratio of 2.57 and a beta of 1.41. The firm has a 50-day simple moving average of $417.05 and a 200-day simple moving average of $362.54. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 business had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the prior year, the company posted $5.99 EPS. The firm's revenue was down .7% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

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

Analyst Upgrades and Downgrades

CAT has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Truist Financial upped their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Bank of America upped their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Finally, Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and an average price target of $457.20.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the company's 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 of the company's stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman directly owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,653 shares of company stock valued at $8,943,642. Corporate insiders own 0.33% of the company's stock.

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.

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