Fairtree Asset Management Pty Ltd Purchases New Position in Caterpillar Inc. (NYSE:CAT)

Fairtree Asset Management Pty Ltd purchased a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,124 shares of the industrial products company's stock, valued at approximately $408,000.

Several other institutional investors have also modified their holdings of the stock. M1 Capital Management LLC purchased a new position in shares of Caterpillar during the 4th quarter worth $546,000. Chancellor Financial Group WB LP purchased a new position in shares of Caterpillar during the 4th quarter worth $1,036,000. NorthCrest Asset Manangement LLC raised its holdings in Caterpillar by 1.0% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 74,921 shares of the industrial products company's stock valued at $27,178,000 after buying an additional 756 shares during the period. Northstar Financial Companies Inc. purchased a new stake in Caterpillar in the 4th quarter valued at about $475,000. Finally, Old North State Trust LLC purchased a new stake in Caterpillar in the 4th quarter valued at about $320,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Caterpillar Stock Down 1.3%

Shares of Caterpillar stock traded down $4.69 on Friday, reaching $347.10. 4,866,863 shares of the company were exchanged, compared to its average volume of 2,640,636. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The company has a market cap of $163.50 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock's 50 day moving average price is $319.13 and its 200-day moving average price is $351.46.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the firm posted $5.60 earnings per share. The business's quarterly revenue was down 9.8% compared to the same quarter last year. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, April 21st. Caterpillar's dividend payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAT. Wall Street Zen lowered shares of Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Citigroup boosted their price objective on shares of Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a report on Monday, May 5th. Evercore ISI dropped their target price on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. Finally, Wedbush raised Caterpillar to an "outperform" rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $372.92.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now directly owns 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Caterpillar Company 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.