Caterpillar Inc. (NYSE:CAT) Stock Holdings Reduced by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in Caterpillar Inc. by 28.6%, selling 11,056 shares, leaving it with 27,546 shares valued at approximately $9.08 million.
• Caterpillar declared a quarterly dividend of $1.51 per share, a notable increase from the previous dividend of $1.41, representing an annual yield of 1.5%.
• The company's most recent earnings report revealed a missed EPS forecast of $4.72, lower than the expected $4.88, with quarterly revenue of $16.57 billion, slightly above estimates.

Gulf International Bank UK Ltd lowered its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 28.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,546 shares of the industrial products company's stock after selling 11,056 shares during the quarter. Gulf International Bank UK Ltd's holdings in Caterpillar were worth $9,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. National Pension Service grew its stake in Caterpillar by 8.1% in the first quarter. National Pension Service now owns 997,577 shares of the industrial products company's stock valued at $329,001,000 after purchasing an additional 74,981 shares in the last quarter. Klingman & Associates LLC grew its stake in Caterpillar by 128.4% in the first quarter. Klingman & Associates LLC now owns 1,606 shares of the industrial products company's stock valued at $530,000 after purchasing an additional 903 shares in the last quarter. Fox Hill Wealth Management grew its stake in Caterpillar by 152.2% in the first quarter. Fox Hill Wealth Management now owns 3,160 shares of the industrial products company's stock valued at $1,042,000 after purchasing an additional 1,907 shares in the last quarter. LGT Group Foundation grew its stake in Caterpillar by 2.8% in the first quarter. LGT Group Foundation now owns 5,810 shares of the industrial products company's stock valued at $1,916,000 after purchasing an additional 160 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Caterpillar by 9.8% in the first quarter. Russell Investments Group Ltd. now owns 173,702 shares of the industrial products company's stock worth $57,284,000 after buying an additional 15,455 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Trading Up 0.9%

Shares of CAT opened at $412.21 on Wednesday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $193.11 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 2.42 and a beta of 1.40. The stock's 50-day moving average price is $395.90 and its 200 day moving average price is $355.51.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the prior year, the firm earned $5.99 earnings per share. The company's revenue was down .7% on a year-over-year basis. As a group, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company 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 dividend of $1.51 per share. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is presently 30.72%.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of analyst reports. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Robert W. Baird boosted their price target on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research report on Friday, June 20th. Oppenheimer boosted their price target on Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Evercore ISI reduced their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. Finally, Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Seven research 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $444.00.

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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