D.A. Davidson & CO. Grows Holdings in Caterpillar Inc. (NYSE:CAT)

D.A. Davidson & CO. lifted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,856 shares of the industrial products company's stock after buying an additional 2,433 shares during the period. D.A. Davidson & CO.'s holdings in Caterpillar were worth $26,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Caterpillar during the fourth quarter worth $2,184,364,000. GAMMA Investing LLC grew its holdings in shares of Caterpillar by 43,447.3% during the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares during the period. Capital Research Global Investors increased its position in shares of Caterpillar by 69.3% during the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Caterpillar in the 4th quarter valued at about $353,231,000. Finally, Northern Trust Corp lifted its position in Caterpillar by 11.8% in the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after buying an additional 724,477 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their price target for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their target price on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Evercore ISI decreased their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective on the stock in a report on Thursday, May 1st. Finally, Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $380.83.

Caterpillar Stock Up 0.2%

Shares of NYSE:CAT traded up $0.90 on Friday, hitting $399.33. 1,737,838 shares of the company's stock were exchanged, compared to its average volume of 2,523,847. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a market capitalization of $188.10 billion, a PE ratio of 19.46, a P/E/G ratio of 2.65 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The firm's 50-day moving average is $350.10 and its 200 day moving average is $346.79.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the company earned $5.60 earnings per share. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. Sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 29.43%.

Insider Activity

In other news, Director David Maclennan bought 375 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.