Caterpillar Inc. (NYSE:CAT) Shares Purchased by Conning Inc.

Conning Inc. lifted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,385 shares of the industrial products company's stock after purchasing an additional 11,092 shares during the quarter. Caterpillar accounts for approximately 1.3% of Conning Inc.'s holdings, making the stock its 24th largest position. Conning Inc.'s holdings in Caterpillar were worth $36,075,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Caterpillar during the 4th quarter valued at about $2,184,364,000. GAMMA Investing LLC raised its holdings in Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares in the last quarter. Capital Research Global Investors lifted its position in Caterpillar by 69.3% in the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares during the period. Raymond James Financial Inc. bought a new position in Caterpillar during the 4th quarter valued at $353,231,000. Finally, Northern Trust Corp increased its position in shares of Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after purchasing an additional 724,477 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $399.33 on Friday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. The stock has a market cap of $188.10 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 2.65 and a beta of 1.38. The business has a fifty day simple moving average of $350.10 and a 200-day simple moving average of $346.79.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the prior year, the company posted $5.60 earnings per share. The firm's revenue was down 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.51%. 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 currently 29.43%.

Insider Transactions at Caterpillar

In related news, Director David Maclennan purchased 375 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of several research analyst reports. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective for the company in a report on Thursday, May 1st. DA Davidson upped their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and increased their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Finally, Truist Financial lifted their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $380.83.

Caterpillar Profile

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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