Eurizon Capital SGR S.p.A. Acquires New Position in Caterpillar Inc. $CAT

Key Points

• Eurizon Capital SGR S.p.A. disclosed a new fourth-quarter stake in Caterpillar, buying 310,130 shares valued at about $177.9 million.
• Caterpillar saw additional institutional activity, while insiders were net sellers: CFO Andrew Bonfield and insider Bob De Lange both sold shares, and insiders have sold 98,273 shares worth about $89.4 million over the last three months.
• The company reported strong quarterly results, with EPS of $5.54 versus $4.65 expected and revenue of $17.42 billion, while analysts remain broadly positive with a Moderate Buy consensus and average target price of $923.14.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 310,130 shares of the industrial products company's stock, valued at approximately $177,919,000. Eurizon Capital SGR S.p.A. owned about 0.07% of Caterpillar as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar in the fourth quarter worth approximately $579,000. Brighton Jones LLC grew its stake in shares of Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. United Bank grew its stake in shares of Caterpillar by 108.5% in the second quarter. United Bank now owns 4,083 shares of the industrial products company's stock worth $1,585,000 after acquiring an additional 2,125 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Caterpillar by 3.9% in the second quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company's stock worth $3,551,000 after acquiring an additional 347 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Caterpillar by 6.5% in the second quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company's stock worth $222,120,000 after acquiring an additional 34,846 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 15,674 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total value of $14,399,860.54. Following the transaction, the chief financial officer owned 52,935 shares of the company's stock, valued at approximately $48,631,913.85. The trade was a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 24,222 shares of the business's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the completion of the transaction, the insider directly owned 86,029 shares in the company, valued at $79,397,884.68. This trade represents a 21.97% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 98,273 shares of company stock valued at $89,439,960. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Caterpillar in a research note on Friday, May 8th. CICC Research assumed coverage on shares of Caterpillar in a research note on Friday, February 6th. They issued an "outperform" rating for the company. UBS Group reiterated a "neutral" rating and issued a $677.00 price target on shares of Caterpillar in a research note on Monday, February 2nd. Wall Street Zen upgraded shares of Caterpillar from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $860.00 to $1,125.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $923.14.

Caterpillar Price Performance

NYSE CAT opened at $872.61 on Friday. The stock has a market cap of $401.91 billion, a price-to-earnings ratio of 43.43, a PEG ratio of 1.75 and a beta of 1.63. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 12 month low of $339.50 and a 12 month high of $931.35. The company's 50 day moving average is $811.10 and its two-hundred day moving average is $702.31.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm had revenue of $17.42 billion for the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the previous year, the firm earned $4.25 earnings per share. The company's quarterly revenue was up 22.2% compared to the same quarter last year. As a group, research analysts anticipate that Caterpillar Inc. will post 24.67 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, April 20th. Caterpillar's payout ratio is 30.06%.

Caterpillar Profile

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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