Caterpillar Inc. $CAT Shares Acquired by Edmond DE Rothschild Holding S.A.

Key Points

• Edmond DE Rothschild Holding S.A. significantly increased its stake in Caterpillar Inc., raising its holdings by 3,783.8% to 94,648 shares, valued at approximately $31.2 million.
• Multiple large investors are also increasing their positions in Caterpillar, with notable increases from Belmont Capital (928.6%) and Adage Capital Partners (87.1%) during the same period.
• Despite a recent quarterly earnings miss, Caterpillar has a consensus price target of $457.20 and an increase in its quarterly dividend to $1.51 per share.

Edmond DE Rothschild Holding S.A. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3,783.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,648 shares of the industrial products company's stock after acquiring an additional 92,211 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Caterpillar were worth $31,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Belmont Capital LLC raised its position in Caterpillar by 928.6% during the 1st quarter. Belmont Capital LLC now owns 720 shares of the industrial products company's stock valued at $237,000 after purchasing an additional 650 shares in the last quarter. Aprio Wealth Management LLC raised its holdings in shares of Caterpillar by 3.4% in the first quarter. Aprio Wealth Management LLC now owns 1,958 shares of the industrial products company's stock valued at $646,000 after acquiring an additional 65 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Caterpillar by 87.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 134,754 shares of the industrial products company's stock valued at $44,442,000 after acquiring an additional 62,727 shares in the last quarter. Promethium Advisors LLC grew its holdings in Caterpillar by 6.0% during the 1st quarter. Promethium Advisors LLC now owns 3,821 shares of the industrial products company's stock worth $1,260,000 after acquiring an additional 215 shares in the last quarter. Finally, Paragon Private Wealth Management LLC purchased a new position in Caterpillar during the 1st quarter valued at about $202,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 0.7%

CAT stock traded up $2.87 on Friday, hitting $423.09. 1,843,217 shares of the company's stock were exchanged, compared to its average volume of 2,741,062. The firm has a 50 day moving average price of $417.05 and a two-hundred day moving average price of $362.44. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The stock has a market cap of $198.21 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41. 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 (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter last year, the business posted $5.99 earnings per share. The company's quarterly revenue was down .7% compared to the same quarter last year. As a group, equities research analysts expect 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. Shareholders of record on Monday, July 21st were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.4%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is presently 30.72%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CAT. Bank of America upped their price target on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. DA Davidson increased their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. Finally, Robert W. Baird decreased their price objective on Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $457.20.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction on 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 trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman owned 482,505 shares of the company's stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is owned by corporate insiders.

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.