Raiffeisen Bank International AG Purchases 2,808 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Raiffeisen Bank International AG increased its stake in Caterpillar Inc. by 31.5%, owning 11,735 shares valued at approximately $3.87 million after acquiring an additional 2,808 shares during the first quarter.
• Caterpillar recently declared a quarterly dividend of $1.51 per share, an increase from the previous dividend of $1.41, with the ex-dividend date set for July 21st.
• Analysts have raised their price targets for Caterpillar, with an average target now at $419.33, reflecting an overall consensus of moderate buy among research firms.

Raiffeisen Bank International AG boosted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 31.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,735 shares of the industrial products company's stock after acquiring an additional 2,808 shares during the quarter. Raiffeisen Bank International AG's holdings in Caterpillar were worth $3,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Victrix Investment Advisors purchased a new stake in Caterpillar in the 4th quarter worth approximately $2,090,000. Pacific Point Advisors LLC purchased a new stake in Caterpillar in the 4th quarter worth approximately $579,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Caterpillar by 18.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock worth $63,202,000 after buying an additional 30,070 shares during the period. Crestwood Advisors Group LLC lifted its holdings in Caterpillar by 3.4% in the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock worth $7,483,000 after buying an additional 743 shares during the period. Finally, Liberty Square Wealth Partners LLC lifted its holdings in Caterpillar by 5.8% in the 1st quarter. Liberty Square Wealth Partners LLC now owns 1,636 shares of the industrial products company's stock worth $540,000 after buying an additional 90 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of several research reports. Truist Financial increased their target price on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday. Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Bank of America raised their target price on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday. Sanford C. Bernstein restated a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Finally, UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and raised their price objective for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $444.00.

Caterpillar Price Performance

Shares of Caterpillar stock traded down $6.19 during trading hours on Wednesday, hitting $428.04. The company's stock had a trading volume of 2,630,330 shares, compared to its average volume of 2,904,048. The business has a 50 day moving average price of $389.11 and a two-hundred day moving average price of $354.92. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The company has a market cap of $201.62 billion, a PE ratio of 21.77, a PEG ratio of 2.72 and a beta of 1.40. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.77 and a current ratio of 1.34.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. Caterpillar's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.99 earnings per share. 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. Stockholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. 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%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's payout ratio is currently 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.