Rathbones Group PLC Purchases 15,288 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Rathbones Group PLC increased its stake in Caterpillar Inc. by 7.4%, acquiring a total of 222,471 shares valued at approximately $73.37 million.
• Caterpillar reported earnings per share (EPS) of $4.72 for the last quarter, missing estimates by $0.16, while revenue reached $16.57 billion, exceeding expectations.
• The company announced a quarterly dividend increase to $1.51 per share, with a payout ratio of 30.72% and a current dividend yield of 1.5%.

Rathbones Group PLC raised its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 222,471 shares of the industrial products company's stock after buying an additional 15,288 shares during the period. Rathbones Group PLC's holdings in Caterpillar were worth $73,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position 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 acquiring an additional 3,721,693 shares during the period. Pacer Advisors Inc. grew its position in shares of Caterpillar by 2,723.1% in 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 acquiring an additional 1,364,183 shares during the period. Nuveen LLC bought a new position in shares of Caterpillar in the 1st quarter valued at about $391,788,000. Capital Research Global Investors grew its position in shares of Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after acquiring an additional 1,196,861 shares during the period. Finally, Northern Trust Corp boosted its holdings 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 buying an additional 724,477 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

CAT stock traded up $3.70 during trading on Thursday, reaching $417.40. 3,673,206 shares of the company were exchanged, compared to its average volume of 2,759,396. The company has a 50-day moving average of $398.55 and a two-hundred day moving average of $356.06. The company has a market capitalization of $195.54 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 2.46 and a beta of 1.40. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month 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.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter in the prior year, the company earned $5.99 earnings per share. Caterpillar's revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared 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 an increase 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 1.4%. Caterpillar's dividend payout ratio is currently 30.72%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the company'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 transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CAT shares. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Barclays increased their price target on shares of Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Robert W. Baird boosted their price objective 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, DA Davidson boosted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. 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 company presently 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.