Dearborn Partners LLC Takes $30.48 Million Position in Caterpillar Inc. $CAT

Dearborn Partners LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 28,618 shares of the industrial products company's stock, valued at approximately $30,476,000. Caterpillar accounts for about 1.4% of Dearborn Partners LLC's holdings, making the stock its 18th largest holding.

A number of other institutional investors also recently bought and sold shares of the stock. Decker Retirement Planning Inc. raised its stake in shares of Caterpillar by 440.0% in the second quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 22 shares during the period. Matrix Trust Co boosted its stake in shares of Caterpillar by 93.8% during the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company's stock worth $33,000 after purchasing an additional 15 shares during the period. Axiom Investment Management LLC bought a new position in Caterpillar during the 2nd quarter valued at about $36,000. Lam Group Inc. bought a new position in Caterpillar during the 1st quarter valued at about $26,000. Finally, Tacita Capital Inc purchased a new stake in Caterpillar in the 2nd quarter worth about $47,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $813.51 on Tuesday. The firm has a market cap of $373.95 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.60. The firm's 50 day simple moving average is $868.12 and its 200-day simple moving average is $839.26. Caterpillar Inc. has a one year low of $416.44 and a one year high of $1,073.46. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The firm had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same quarter in the previous year, the business earned $4.72 earnings per share. Caterpillar's quarterly revenue was up 23.7% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 27.34 EPS for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th were issued a $1.63 dividend. The ex-dividend date was Monday, July 20th. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. This is a positive change from Caterpillar's previous quarterly dividend of $1.51. Caterpillar's dividend payout ratio (DPR) is currently 28.06%.

Insider Buying and Selling at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the transaction, the chief executive officer owned 34,555 shares of the company's stock, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CAT shares. Erste Group Bank lowered Caterpillar from a "buy" rating to a "hold" rating in a research report on Monday, July 27th. DA Davidson increased their price target on Caterpillar from $845.00 to $882.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their price target on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 17th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $1,002.00 price objective on shares of Caterpillar in a research report on Wednesday, August 5th. Finally, Zacks Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Caterpillar presently has an average rating of "Moderate Buy" and an average target price of $995.52.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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