HM Payson & Co. Has $51.41 Million Position in Caterpillar Inc. (NYSE:CAT)

HM Payson & Co. grew its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,871 shares of the industrial products company's stock after purchasing an additional 26,430 shares during the period. HM Payson & Co.'s holdings in Caterpillar were worth $51,406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in Caterpillar during the fourth quarter valued at about $2,184,364,000. GAMMA Investing LLC lifted its position in shares of Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after purchasing an additional 3,721,693 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Caterpillar by 69.3% in the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares in the last quarter. Raymond James Financial Inc. bought a new position in Caterpillar during the fourth quarter valued at approximately $353,231,000. Finally, Northern Trust Corp raised its position in Caterpillar by 11.8% during the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after acquiring an additional 724,477 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Price Performance

Shares of NYSE CAT traded up $2.71 during midday trading on Tuesday, reaching $394.22. 1,996,008 shares of the company traded hands, compared to its average volume of 2,527,135. The firm has a market cap of $185.69 billion, a PE ratio of 19.21, a PEG ratio of 2.60 and a beta of 1.38. The stock's 50-day simple moving average is $355.40 and its 200-day simple moving average is $347.25. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $418.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the firm earned $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 anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.53%. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analysts Forecast Growth

CAT has been the topic of several recent research reports. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Citigroup reiterated a "buy" rating and set a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a report on Tuesday, June 24th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and increased their price target for the company from $272.00 to $357.00 in a report on Friday, May 16th. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Oppenheimer upgraded shares of Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price objective on the stock in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus price target of $380.83.

Insider Buying and Selling

In other news, Director David Maclennan acquired 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, for a total transaction of $120,262.50. Following the completion of the transaction, the director directly owned 6,653 shares in the company, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by 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.