Caterpillar Inc. $CAT Stock Position Raised by Narwhal Capital Management

Key Points

• Narwhal Capital Management increased its stake in Caterpillar Inc. by 6.5%, now holding 26,202 shares valued at over $10 million.
• Multiple hedge funds have also boosted their positions in Caterpillar, with Valeo Financial Advisors LLC increasing its stake by an astounding 36,842.1%.
• Caterpillar recently declared a quarterly dividend of $1.51 per share, with a dividend yield of 1.2%, reflecting a steady payout strategy amidst fluctuating earnings.

Narwhal Capital Management lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,202 shares of the industrial products company's stock after buying an additional 1,600 shares during the period. Narwhal Capital Management's holdings in Caterpillar were worth $10,172,000 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 company. Valeo Financial Advisors LLC boosted its stake in Caterpillar by 36,842.1% during the 2nd 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Caterpillar by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock valued at $1,386,626,000 after purchasing an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after purchasing an additional 15,347 shares during the period. Goldman Sachs Group Inc. boosted its stake in Caterpillar by 9.1% during the 1st 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 period. Finally, Invesco Ltd. boosted its stake in Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock valued at $1,036,211,000 after purchasing an additional 150,533 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAT has been the subject of several recent analyst reports. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective for the company in a report on Tuesday, August 19th. Bank of America increased their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a report on Wednesday, July 9th. Finally, DA Davidson increased their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus target price of $473.53.

Caterpillar Stock Up 3.2%

CAT stock opened at $502.08 on Thursday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $509.48. The firm has a 50 day simple moving average of $440.73 and a 200 day simple moving average of $381.76. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market cap of $235.21 billion, a PE ratio of 25.54, a P/E/G ratio of 2.96 and a beta of 1.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 EPS. The firm's revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. Caterpillar's payout ratio is currently 30.72%.

Insider Activity

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the transaction, the chairman owned 465,339 shares in the company, valued at approximately $215,289,088.35. This represents a 3.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 over the last 90 days. 0.33% of the stock is owned by company insiders.

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.

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.