Philadelphia Trust Co. Sells 22,926 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Philadelphia Trust Co. has significantly reduced its stake in Caterpillar Inc. by selling 22,926 shares, resulting in an ownership of 4,148 shares valued at $1,368,000 as of the latest 13F filing.
• Multiple hedge funds have made substantial investments in Caterpillar, with one fund increasing its stake by 43,447.3% and others also reporting significant share acquisitions.
• Caterpillar's quarterly dividend was increased from $1.41 to $1.51, reflecting the company's commitment to returning value to shareholders, with a dividend yield of 1.5%.

Philadelphia Trust Co. decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 84.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,148 shares of the industrial products company's stock after selling 22,926 shares during the quarter. Philadelphia Trust Co.'s holdings in Caterpillar were worth $1,368,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CAT. GAMMA Investing LLC lifted its stake in Caterpillar by 43,447.3% in 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. Pacer Advisors Inc. lifted its position in shares of Caterpillar by 2,723.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after buying an additional 1,364,183 shares in the last quarter. Nuveen LLC purchased a new position in Caterpillar in the 1st quarter worth approximately $391,788,000. Capital Research Global Investors raised its holdings 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 acquiring an additional 1,196,861 shares in the last quarter. Finally, Northern Trust Corp increased 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 valued at $2,483,937,000 after purchasing an additional 724,477 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

CAT opened at $407.41 on Friday. The company has a market capitalization of $190.86 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.49 and a beta of 1.40. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a 50-day moving average price of $399.63 and a 200-day moving average price of $356.18. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15.

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 return on equity of 48.95% and a net margin of 14.95%. The company had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the prior year, the firm earned $5.99 EPS. Caterpillar's quarterly revenue was down .7% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The business also recently declared 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 is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is presently 30.72%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Robert W. Baird increased their price target on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Citigroup raised their target price on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Barclays lifted their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Seven 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 company's stock. According to MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and an average target price of $444.00.

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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