Mackenzie Financial Corp Boosts Position in Caterpillar Inc. (NYSE:CAT)

Mackenzie Financial Corp increased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 170,811 shares of the industrial products company's stock after acquiring an additional 22,457 shares during the quarter. Mackenzie Financial Corp's holdings in Caterpillar were worth $61,963,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC increased its holdings in Caterpillar by 3.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company's stock worth $262,000 after acquiring an additional 25 shares during the last quarter. Allen Capital Group LLC boosted its stake in Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company's stock worth $1,541,000 after purchasing an additional 26 shares during the period. Wagner Wealth Management LLC boosted its stake in Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company's stock worth $242,000 after purchasing an additional 26 shares during the period. Total Clarity Wealth Management Inc. boosted its stake in Caterpillar by 0.6% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company's stock worth $1,586,000 after purchasing an additional 27 shares during the period. Finally, Magnolia Capital Advisors LLC boosted its stake in Caterpillar by 3.3% in the 4th quarter. Magnolia Capital Advisors LLC now owns 857 shares of the industrial products company's stock worth $311,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen downgraded Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 target price for the company in a research note on Thursday, May 1st. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their price target for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Finally, Bank of America lifted their price target on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $372.92.

Caterpillar Trading Down 0.1%

Caterpillar stock traded down $0.46 during trading hours on Friday, reaching $351.33. The company had a trading volume of 863,857 shares, compared to its average volume of 2,625,399. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The company has a 50-day moving average price of $319.13 and a 200 day moving average price of $351.46. The firm has a market cap of $165.49 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Caterpillar's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the firm earned $5.60 earnings per share. Equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Monday, April 21st were paid a $1.41 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $5.64 annualized dividend and a yield of 1.61%. Caterpillar's payout ratio is 27.49%.

Insider Buying and Selling

In related news, Director David Maclennan bought 375 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by 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.