Generali Investments Management Co LLC Has $3 Million Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Generali Investments Management increased its Caterpillar position by 132.9% in the second quarter, holding 2,814 shares valued at approximately $3 million. Institutional investors own about 70.98% of Caterpillar.
• Caterpillar reported a strong quarter, with earnings of $8.17 per share and revenue of $20.54 billion, surpassing analyst estimates; revenue increased 23.7% year over year.
• The company raised its quarterly dividend from $1.51 to $1.63 per share, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $995.52.

Generali Investments Management Co LLC grew its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 132.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,814 shares of the industrial products company's stock after purchasing an additional 1,606 shares during the quarter. Generali Investments Management Co LLC's holdings in Caterpillar were worth $2,997,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Axxcess Wealth Management LLC boosted its holdings in Caterpillar by 2.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company's stock valued at $12,844,000 after purchasing an additional 604 shares during the period. Juno Financial Group LLC bought a new position in shares of Caterpillar during the 4th quarter worth about $877,000. DSG Capital Advisors LLC acquired a new position in shares of Caterpillar during the first quarter valued at about $1,226,000. Cornerstone Planning LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at about $4,517,000. Finally, Ticino Wealth acquired a new stake in Caterpillar during the fourth quarter worth about $2,488,000. 70.98% of the stock is owned by institutional investors.

Insider Transactions at Caterpillar

In related news, CAO William E. Schaupp sold 360 shares of Caterpillar stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total transaction of $326,160.00. Following the completion of the transaction, the chief accounting officer directly owned 530 shares of the company's stock, valued at $480,180. This trade represents a 40.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the transaction, the insider owned 49,825 shares in the company, valued at approximately $45,236,615.75. This trade represents a 20.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,161 shares of company stock valued at $17,407,424 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

Caterpillar stock opened at $836.29 on Tuesday. The business has a 50 day simple moving average of $920.45 and a 200 day simple moving average of $821.82. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85. The company has a market capitalization of $384.42 billion, a PE ratio of 35.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.60. Caterpillar Inc. has a one year low of $405.46 and a one year high of $1,073.46.

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 for the quarter, beating analysts' consensus estimates of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to analysts' expectations of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The business's revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.72 earnings per share. On average, sell-side analysts forecast that Caterpillar Inc. will post 26.3 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be given a dividend of $1.63 per share. This is an increase from Caterpillar's previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.8%. Caterpillar's dividend payout ratio is 28.06%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CAT shares. Erste Group Bank cut Caterpillar from a "buy" rating to a "hold" rating in a report on Monday, July 27th. Weiss Ratings restated a "buy (b-)" rating on shares of Caterpillar in a research report on Wednesday, August 5th. UBS Group upped their target price on Caterpillar from $900.00 to $925.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $1,118.00 target price on shares of Caterpillar in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company lifted their price target on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 23rd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Caterpillar has an average rating of "Moderate Buy" and a consensus target price of $995.52.

Caterpillar Company 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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