Nikko Asset Management Americas Inc. Has $3.81 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Key Points

• Nikko Asset Management Americas Inc. has reduced its position in Caterpillar Inc. by 6.5%, holding 11,540 shares worth approximately $3.81 million following the sale of 796 shares in the first quarter.
• Caterpillar recently reported an EPS of $4.25 for the last quarter, missing expectations by $0.10 and showing a 9.8% year-over-year decline in revenue.
• The company announced a dividend increase to $1.51 per share, with the ex-dividend date set for July 21st, representing an annual yield of 1.39%.

Nikko Asset Management Americas Inc. trimmed its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,540 shares of the industrial products company's stock after selling 796 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Caterpillar were worth $3,806,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in Caterpillar in the fourth quarter valued at $33,000. Quarry LP acquired a new stake in Caterpillar in the 4th quarter valued at approximately $35,000. Mpwm Advisory Solutions LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $36,000. Mattson Financial Services LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $39,000. Finally, Curat Global LLC acquired a new stake in Caterpillar in the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Performance

Shares of Caterpillar stock traded up $5.81 during trading on Wednesday, reaching $435.86. The company's stock had a trading volume of 1,181,265 shares, compared to its average volume of 2,672,469. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The business's fifty day moving average price is $380.25 and its 200-day moving average price is $352.87. The firm has a market cap of $205.31 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.71 and a beta of 1.38. Caterpillar Inc. has a one year low of $267.30 and a one year high of $436.40.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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). The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The company's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.60 earnings per share. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a yield of 1.39%. Caterpillar's dividend payout ratio (DPR) is 29.43%.

Analyst Ratings Changes

Several analysts recently commented on CAT shares. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $300.00 to $283.00 in a research report on Wednesday, April 16th. Truist Financial lifted their price target on Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Evercore ISI lowered their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research report on Monday, May 19th. Finally, DA Davidson lifted their price target on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. 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 stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus price target of $419.33.

Insiders Place Their Bets

In related news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were bought 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 owned 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

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.