Brandywine Global Investment Management LLC Has $196.97 Million Stock Position in Caterpillar Inc. $CAT

Key Points

• Brandywine Global Investment Management LLC increased its stake in Caterpillar Inc. by 17.6%, now holding approximately 597,249 shares valued at about $196.97 million.
• Caterpillar recently reported $4.72 EPS for the quarter, which missed the consensus estimate of $4.88, while its revenue was down 0.7% year-over-year.
• The company announced a quarterly dividend increase to $1.51, representing a 1.4% yield and up from the previous dividend of $1.41.

Brandywine Global Investment Management LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 17.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 597,249 shares of the industrial products company's stock after purchasing an additional 89,432 shares during the period. Caterpillar comprises about 1.4% of Brandywine Global Investment Management LLC's holdings, making the stock its 12th biggest holding. Brandywine Global Investment Management LLC owned 0.13% of Caterpillar worth $196,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. High Falls Advisors Inc lifted its holdings in shares of Caterpillar by 1.2% during the first quarter. High Falls Advisors Inc now owns 4,974 shares of the industrial products company's stock valued at $1,640,000 after purchasing an additional 59 shares during the last quarter. Aberdeen Group plc lifted its stake in Caterpillar by 41.5% in the 1st quarter. Aberdeen Group plc now owns 416,760 shares of the industrial products company's stock worth $136,689,000 after acquiring an additional 122,185 shares in the last quarter. Horizon Investments LLC lifted its stake in Caterpillar by 2.6% in the 1st quarter. Horizon Investments LLC now owns 8,478 shares of the industrial products company's stock worth $2,783,000 after acquiring an additional 211 shares in the last quarter. Trivium Point Advisory LLC lifted its stake in Caterpillar by 17.6% in the 1st quarter. Trivium Point Advisory LLC now owns 827 shares of the industrial products company's stock worth $273,000 after acquiring an additional 124 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Caterpillar by 3.2% in the 1st quarter. Sei Investments Co. now owns 106,503 shares of the industrial products company's stock worth $37,019,000 after acquiring an additional 3,312 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Robert W. Baird increased their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Truist Financial increased their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Finally, UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and raised their price target for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and a consensus target price of $444.00.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

Caterpillar Price Performance

CAT traded down $10.09 during trading on Friday, hitting $407.41. The company's stock had a trading volume of 3,105,803 shares, compared to its average volume of 3,193,540. The firm's 50 day moving average price is $399.63 and its two-hundred day moving average price is $355.78. 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 12 month low of $267.30 and a 12 month high of $441.15. The stock has a market capitalization of $190.86 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the previous year, the firm posted $5.99 EPS. The company's revenue for the quarter was down .7% compared to the same quarter last year. Sell-side 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 will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is presently 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.