1,281,306 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Caterpillar Inc., purchasing approximately 1.28 million shares valued at around $391.79 million, representing a 0.27% ownership in the company.
• Caterpillar recently announced a quarterly dividend increase to $1.51 per share from $1.41, with a prospective annual yield of 1.5% based on a 30.72% payout ratio.
• Despite missing analysts' consensus earnings estimates, Caterpillar reported revenues of $16.57 billion for the quarter, slightly above expectations, while the stock has received mixed analyst ratings with an average target price of $444.

Nuveen LLC bought a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,281,306 shares of the industrial products company's stock, valued at approximately $391,788,000. Nuveen LLC owned approximately 0.27% of Caterpillar at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CAT. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter worth $579,000. Brighton Jones LLC raised its holdings in Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Caterpillar by 24.9% in the fourth quarter. Townsquare Capital LLC now owns 34,267 shares of the industrial products company's stock worth $12,431,000 after buying an additional 6,829 shares during the last quarter. Optimize Financial Inc bought a new stake in shares of Caterpillar during the 4th quarter worth about $226,000. Finally, Sagespring Wealth Partners LLC bought a new position in shares of Caterpillar in the 4th quarter valued at approximately $7,088,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Citigroup lifted their target price on shares of Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. DA Davidson boosted their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Robert W. Baird raised their target price on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus target price of $444.00.

Caterpillar Price Performance

Shares of NYSE CAT traded up $3.70 during midday trading on Thursday, reaching $417.40. 3,667,856 shares of the company traded hands, compared to its average volume of 2,759,165. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock's 50-day simple moving average is $397.18 and its 200-day simple moving average is $355.91. The firm has a market cap of $195.54 billion, a PE ratio of 21.23, a PEG ratio of 2.46 and a beta of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS 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 analyst estimates of $16.14 billion. During the same quarter last year, the firm earned $5.99 earnings per share. Caterpillar's quarterly revenue was down .7% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is 30.72%.

Insider Buying and Selling at Caterpillar

In other Caterpillar 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 of the company's stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.

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.