Mitsubishi UFJ Trust & Banking Corp Sells 6,808 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Mitsubishi UFJ Trust & Banking Corp has reduced its position in Caterpillar Inc. by 1.7%, currently owning about 0.08% of the company, valued at $129.8 million.
• Equities analysts have raised price targets for Caterpillar shares, with Oppenheimer setting a new target of $483.00 and JPMorgan Chase raising theirs to $475.00.
• Caterpillar has increased its quarterly dividend to $1.51 per share, up from $1.41, representing an annualized yield of 1.4%.

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 393,498 shares of the industrial products company's stock after selling 6,808 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Caterpillar worth $129,776,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CAT. Investment Management Corp VA ADV acquired a new stake in Caterpillar in the 4th quarter valued at about $33,000. Curat Global LLC acquired a new stake in shares of Caterpillar during the first quarter worth $33,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar in the 1st quarter worth about $33,000. Quarry LP purchased a new stake in Caterpillar during the fourth quarter valued at about $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Caterpillar in the fourth quarter worth about $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

Caterpillar stock traded up $5.52 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 business's fifty day moving average price is $385.66 and its 200 day moving average price is $354.03. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a market cap of $204.53 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.68 and a beta of 1.40.

Caterpillar Increases Dividend

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

Analyst Upgrades and Downgrades

CAT has been the topic of several research analyst reports. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Evercore ISI cut their price target on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Robert W. Baird raised their price target on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Finally, Barclays lifted their price target on Caterpillar from $335.00 to $383.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Caterpillar has a consensus rating of "Moderate Buy" and a consensus price target of $419.33.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by company insiders.

Caterpillar Company 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.