Los Angeles Capital Management LLC Grows Position in Caterpillar Inc. (NYSE:CAT)

Los Angeles Capital Management LLC raised its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,653 shares of the industrial products company's stock after acquiring an additional 8,434 shares during the period. Los Angeles Capital Management LLC's holdings in Caterpillar were worth $43,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Proficio Capital Partners LLC increased its stake in shares of Caterpillar by 38.3% in the fourth quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock valued at $805,000 after buying an additional 614 shares during the period. Victrix Investment Advisors bought a new position in Caterpillar during the 4th quarter worth approximately $2,090,000. Pacific Point Advisors LLC bought a new position in Caterpillar during the 4th quarter worth approximately $579,000. Wealth Enhancement Advisory Services LLC raised its holdings in Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after purchasing an additional 30,070 shares during the last quarter. Finally, Liberty Square Wealth Partners LLC raised its holdings in Caterpillar by 5.8% during the 1st quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock worth $540,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In related news, Director David Maclennan bought 375 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Up 2.1%

Shares of CAT stock traded up $8.97 during trading hours on Wednesday, reaching $426.16. The company had a trading volume of 1,913,593 shares, compared to its average volume of 2,501,568. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $428.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The business has a fifty day simple moving average of $369.61 and a 200-day simple moving average of $349.62. The company has a market cap of $200.74 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the firm posted $5.60 EPS. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is 29.43%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CAT. Bank of America raised their price target on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. DA Davidson increased their price target on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Robert W. Baird increased their price target on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. increased their price target on Caterpillar from $395.00 to $475.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $419.33.

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.