Caterpillar Inc. (NYSE:CAT) Stake Raised by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Caterpillar Inc. by 5%, now owning approximately 3.14 million shares valued at over $1 billion.
• Caterpillar recently reported $4.72 EPS for the quarter, missing analysts' expectations but generating revenue of $16.57 billion, slightly above projections.
• The company has announced a quarterly dividend of $1.51, up from the previous $1.41, reflecting a dividend yield of 1.5% and a payout ratio of 30.72%.

Invesco Ltd. raised its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,141,936 shares of the industrial products company's stock after buying an additional 150,533 shares during the period. Invesco Ltd. owned about 0.67% of Caterpillar worth $1,036,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Northern Trust Corp raised its stake in shares of Caterpillar by 11.8% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Caterpillar by 8.6% during the fourth 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 worth $1,429,416,000 after purchasing an additional 312,878 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Caterpillar by 43,447.3% during 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. Charles Schwab Investment Management Inc. grew its holdings in shares of Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after buying an additional 15,347 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after buying an additional 268,300 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAT. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Barclays lifted their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Robert W. Baird upped their target price on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Truist Financial upped their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Evercore ISI reduced their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus target price of $444.00.

Insiders Place Their Bets

In related news, 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 sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Up 0.9%

NYSE:CAT traded up $3.70 on Thursday, reaching $417.40. The stock had a trading volume of 3,673,206 shares, compared to its average volume of 3,102,938. 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 company has a 50-day moving average of $398.55 and a 200 day moving average of $356.06. The stock has a market cap of $195.54 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the previous year, the company earned $5.99 earnings per share. The business's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.4%. 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 currently 30.72%.

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.