Credit Agricole S A Has $59.32 Million Position in Caterpillar Inc. $CAT

Key Points

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Credit Agricole S A raised its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 111.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,864 shares of the industrial products company's stock after purchasing an additional 94,934 shares during the period. Credit Agricole S A's holdings in Caterpillar were worth $59,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CAT. Investment Management Corp VA ADV acquired a new position in shares of Caterpillar in the fourth quarter valued at $33,000. Curat Global LLC acquired a new position in shares of Caterpillar in the first quarter valued at $33,000. Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar in the first quarter valued at $33,000. Quarry LP acquired a new position in shares of Caterpillar in the fourth quarter valued at $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on CAT. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Barclays boosted their target price on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Citigroup boosted their target price on shares of Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $450.87.

Caterpillar Price Performance

CAT traded up $17.1140 on Friday, hitting $435.0040. 3,784,363 shares of the stock were exchanged, compared to its average volume of 3,447,273. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The business has a 50-day moving average of $405.71 and a two-hundred day moving average of $357.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market capitalization of $203.79 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.60 and a beta of 1.40.

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 the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the prior year, the company earned $5.99 EPS. The company's revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend was Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is currently 30.72%.

Insider Transactions at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director owned 6,917 shares of the company's stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate 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.