Caterpillar Inc. (NYSE:CAT) Stock Position Raised by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly increased its holdings in Caterpillar Inc. by 2,723.1%, acquiring an additional 1,364,183 shares, bringing its total to 1,414,280 shares.
• Caterpillar's quarterly earnings report showed earnings per share of $4.25, which was below the expected $4.35, contributing to a 9.8% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend increase to $1.51 per share, marking a boost from the previous dividend of $1.41 and indicating a 1.41% yield for investors.

Pacer Advisors Inc. raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 2,723.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,414,280 shares of the industrial products company's stock after buying an additional 1,364,183 shares during the period. Caterpillar comprises about 1.1% of Pacer Advisors Inc.'s portfolio, making the stock its 27th largest holding. Pacer Advisors Inc. owned approximately 0.30% of Caterpillar worth $466,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CAT. Pacific Point Advisors LLC acquired a new position in Caterpillar in the fourth quarter valued at approximately $579,000. Brighton Jones LLC increased its position in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after acquiring an additional 2,519 shares during the period. Quantbot Technologies LP purchased a new position in Caterpillar in the fourth quarter valued at $933,000. Zions Bancorporation N.A. increased its holdings in Caterpillar by 9.2% in the fourth quarter. Zions Bancorporation N.A. now owns 923 shares of the industrial products company's stock valued at $335,000 after buying an additional 78 shares during the last quarter. Finally, PKS Advisory Services LLC purchased a new position in Caterpillar in the fourth quarter valued at $202,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director directly owned 6,653 shares of the company's stock, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

CAT has been the subject of several research analyst reports. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Barclays increased their price target on shares of Caterpillar from $335.00 to $383.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Robert W. Baird increased their target price on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Finally, Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a research note on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $419.33.

Caterpillar Stock Down 1.6%

Caterpillar stock traded down $7.03 during midday trading on Tuesday, hitting $425.91. 901,767 shares of the stock were exchanged, compared to its average volume of 2,672,993. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $436.40. The company has a 50 day moving average price of $378.63 and a two-hundred day moving average price of $352.33. The firm has a market cap of $200.62 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.71 and a beta of 1.38.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the company earned $5.60 EPS. Caterpillar's quarterly revenue was down 9.8% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be given a $1.51 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a yield of 1.42%. Caterpillar's dividend payout ratio is 29.43%.

Caterpillar Company 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.