Caterpillar Inc. (NYSE:CAT) Shares Sold by Banco Santander S.A.

Key Points

• Banco Santander S.A. reduced its stake in Caterpillar Inc. by 16.8%, selling 16,285 shares during the first quarter, leaving it with 80,534 shares valued at approximately $26.56 million.
• Institutional investors have been active in Caterpillar, with GAMMA Investing LLC increasing its stake by an astonishing 43,447.3%, now holding 3.73 million shares worth approximately $1.23 billion.
• Caterpillar also announced a dividend increase to $1.51 per share, which will be paid on August 20th, reflecting a positive change from the previous quarterly dividend of $1.41.

Banco Santander S.A. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 16.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,534 shares of the industrial products company's stock after selling 16,285 shares during the quarter. Banco Santander S.A.'s holdings in Caterpillar were worth $26,560,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Pacific Point Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at $579,000. Brighton Jones LLC raised its position in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Caterpillar by 72.2% during the 4th quarter. Wellington Management Group LLP now owns 88,936 shares of the industrial products company's stock worth $32,262,000 after purchasing an additional 37,282 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at about $50,000. Finally, Westpac Banking Corp lifted its position in shares of Caterpillar by 2.3% during the fourth quarter. Westpac Banking Corp now owns 8,767 shares of the industrial products company's stock valued at $3,180,000 after purchasing an additional 193 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded up $5.52 during midday trading on Monday, reaching $434.21. The company's stock had a trading volume of 4,055,586 shares, compared to its average volume of 2,735,397. 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 fifty day moving average of $385.66 and a 200 day moving average of $354.03. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The firm has a market capitalization of $204.53 billion, a PE ratio of 21.16, a P/E/G ratio of 2.68 and a beta of 1.40.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is presently 29.43%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Oppenheimer increased their price objective on Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. DA Davidson lifted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Barclays boosted their price objective on Caterpillar from $335.00 to $383.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

Insiders Place Their Bets

In related news, Director David Maclennan bought 375 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director directly owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.33% of the company's stock.

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.