Peregrine Asset Advisers Inc. Grows Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Peregrine Asset Advisers Inc. raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 80.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,656 shares of the industrial products company's stock after acquiring an additional 6,525 shares during the period. Caterpillar makes up approximately 1.8% of Peregrine Asset Advisers Inc.'s holdings, making the stock its 14th biggest holding. Peregrine Asset Advisers Inc.'s holdings in Caterpillar were worth $4,834,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Caterpillar in the 4th quarter valued at approximately $2,184,364,000. GAMMA Investing LLC grew its stake in shares of Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock valued at $1,230,239,000 after buying an additional 3,721,693 shares during the period. Capital Research Global Investors boosted its position in shares of Caterpillar by 69.3% during the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares during the period. Northern Trust Corp boosted its position in shares of Caterpillar by 11.8% during the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after purchasing an additional 724,477 shares during the period. Finally, APG Asset Management N.V. boosted its position in shares of Caterpillar by 1,278.6% during the 4th quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company's stock worth $154,367,000 after purchasing an additional 408,678 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David Maclennan bought 375 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

Caterpillar Stock Up 1.7%

Shares of NYSE CAT traded up $7.16 during trading hours on Tuesday, hitting $417.23. The company had a trading volume of 2,183,930 shares, compared to its average volume of 2,504,324. The stock has a market capitalization of $196.53 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 2.74 and a beta of 1.38. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $419.90. The firm's 50 day moving average is $369.61 and its 200-day moving average is $349.62.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $5.60 earnings per share. 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 will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. 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 yield of 1.45%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio is currently 27.49%.

Analyst Upgrades and Downgrades

CAT has been the topic of several research analyst reports. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Baird R W upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Bank of America lifted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Finally, Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $419.33.

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.