CCM Investment Group LLC Makes New $5.85 Million Investment in Caterpillar Inc. (NYSE:CAT)

Key Points

• CCM Investment Group LLC has acquired 17,751 shares of Caterpillar Inc. valued at approximately $5.85 million, making it the firm’s 24th largest holding.
• Caterpillar's recent earnings report showed a reported $4.72 EPS, missing estimates, alongside a revenue of $16.57 billion for the quarter.
• The company announced a quarterly dividend increase from $1.41 to $1.51, reflecting a positive outlook with an annualized yield of 1.5%.

CCM Investment Group LLC bought a new position in Caterpillar Inc. (NYSE:CAT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 17,751 shares of the industrial products company's stock, valued at approximately $5,852,000. Caterpillar makes up approximately 0.6% of CCM Investment Group LLC's investment portfolio, making the stock its 24th biggest position.

Other large investors also recently added to or reduced their stakes in the company. McIlrath & Eck LLC raised its holdings in Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after purchasing an additional 30 shares in the last quarter. Asset Management Group Inc. grew its position in Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock worth $3,907,000 after purchasing an additional 32 shares during the last quarter. Summit X LLC boosted its stake in shares of Caterpillar by 3.2% during the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after buying an additional 32 shares during the period. Menard Financial Group LLC lifted its position in Caterpillar by 1.0% during the 1st quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock worth $1,019,000 after acquiring an additional 32 shares during the period. Finally, Dunhill Financial LLC raised its stake in shares of Caterpillar by 21.3% during the fourth quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after purchasing an additional 36 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

CAT stock traded down $0.29 on Wednesday, reaching $412.43. The company had a trading volume of 879,008 shares, compared to its average volume of 2,729,311. The company's fifty day moving average is $395.90 and its 200 day moving average is $355.51. The company has a market cap of $193.21 billion, a P/E ratio of 20.98, a PEG ratio of 2.42 and a beta of 1.40. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15.

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

Caterpillar Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.5%. 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 30.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CAT. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and raised their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. Melius raised Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. raised their target price on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Caterpillar presently has an average rating of "Moderate Buy" and an average target price of $444.00.

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.