Okabena Investment Services Inc. Takes Position in Caterpillar Inc. $CAT

Key Points

• Okabena Investment Services Inc. acquired 1,020 shares of Caterpillar Inc. during the first quarter, valued at approximately $336,000.
• Institutional investors own 70.98% of Caterpillar's stock, indicating strong interest from hedge funds and other large entities.
• Caterpillar announced a quarterly dividend increase to $1.51 per share, reflecting a positive change from the previous dividend of $1.41.

Okabena Investment Services Inc. bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,020 shares of the industrial products company's stock, valued at approximately $336,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Caterpillar by 8.6% during the 4th 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 valued at $1,429,416,000 after buying an additional 312,878 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 3,721,693 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 valued at $1,089,798,000 after acquiring an additional 15,347 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock valued at $1,064,951,000 after acquiring an additional 268,300 shares during the period. Finally, Invesco Ltd. boosted its position in Caterpillar by 5.0% in the 1st quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock worth $1,036,211,000 after purchasing an additional 150,533 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

NYSE:CAT opened at $433.17 on Thursday. The stock has a 50 day moving average of $410.05 and a two-hundred day moving average of $359.24. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The firm has a market cap of $202.93 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 2.57 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. During the same period in the prior year, the firm earned $5.99 earnings per share. The business's revenue was down .7% on a year-over-year basis. On average, analysts expect 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 was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. Caterpillar's payout ratio is currently 30.72%.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Citigroup lifted their price target on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $450.87.

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.

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