Caterpillar Inc. $CAT Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Caterpillar Inc. by 5.4%, acquiring an additional 1,634 shares to hold a total of 31,741 shares valued at approximately $10.47 million.
• Several institutional investors, including UBS and GAMMA Investing LLC, have also notably raised their stakes in Caterpillar, highlighting strong institutional interest in the company.
• Caterpillar recently announced a dividend increase to $1.51 per share, reflecting positive financial performance and a commitment to returning value to shareholders.

OMERS ADMINISTRATION Corp boosted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,741 shares of the industrial products company's stock after purchasing an additional 1,634 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Caterpillar were worth $10,468,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of Caterpillar in the fourth quarter valued at $33,000. Quarry LP purchased a new stake in shares of Caterpillar in the fourth quarter valued at $35,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at $36,000. Mattson Financial Services LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at $39,000. Finally, Curat Global LLC purchased a new stake in shares of Caterpillar in the first quarter valued at $33,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, 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. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and increased their target price for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. DA Davidson increased their target price on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a research report on Tuesday, August 19th. Finally, Citigroup increased their target price on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $455.53.

Caterpillar Stock Down 3.5%

CAT traded down $15.35 on Monday, reaching $419.56. The company's stock had a trading volume of 3,669,497 shares, compared to its average volume of 3,232,065. The stock has a market cap of $196.55 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 2.53 and a beta of 1.41. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The business's 50 day moving average is $412.74 and its 200 day moving average is $360.23.

Caterpillar (NYSE:CAT - Get Free Report) last released its 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 return on equity of 48.95% and a net margin of 14.95%.The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same period in the prior year, the business earned $5.99 EPS. The company's quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were issued a $1.51 dividend. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend was Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. Caterpillar's dividend payout ratio (DPR) is 30.72%.

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.