Empowered Funds LLC Increases Position in Caterpillar Inc. $CAT

Key Points

• Empowered Funds LLC increased its stake in Caterpillar Inc. by 97.0%, owning 57,497 shares worth approximately $18.96 million after buying an additional 28,308 shares in Q1.
• Analysts have recently adjusted their price targets for Caterpillar, with UBS Group raising the target from $272 to $357, while DA Davidson increased it from $331 to $388, reflecting positive sentiment towards the stock.
• Caterpillar's quarterly dividend was increased to $1.51 per share, marking a positive change from the prior $1.41, with an annual yield of 1.4% and a payout ratio of 30.72%.

Empowered Funds LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 97.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,497 shares of the industrial products company's stock after acquiring an additional 28,308 shares during the quarter. Empowered Funds LLC's holdings in Caterpillar were worth $18,963,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Caterpillar by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock valued at $1,429,416,000 after purchasing an additional 312,878 shares in the last quarter. GAMMA Investing LLC grew its holdings in Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after buying an additional 3,721,693 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after buying an additional 15,347 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Caterpillar by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock valued at $1,064,951,000 after acquiring an additional 268,300 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Caterpillar by 5.0% during the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock worth $1,036,211,000 after buying an additional 150,533 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CAT. Citigroup increased their target price on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Barclays lifted their price target on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Jefferies Financial Group reiterated a "buy" rating and issued a $500.00 price target on shares of Caterpillar in a research report on Friday, August 29th. Melius upgraded 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. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $457.20.

Caterpillar Stock Performance

Caterpillar stock traded down $0.28 during trading on Friday, reaching $431.10. The company had a trading volume of 2,341,271 shares, compared to its average volume of 2,360,946. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm's 50-day simple moving average is $420.04 and its 200 day simple moving average is $365.49. The firm has a market capitalization of $201.96 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. During the same quarter in the previous year, the business earned $5.99 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

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 transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,653 shares of company stock valued at $8,943,642. Corporate insiders own 0.33% of the company's stock.

About Caterpillar

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.