Scotia Capital Inc. Sells 4,712 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Scotia Capital Inc. has reduced its holdings in Caterpillar Inc. by 6.1%, selling 4,712 shares, and now owns 72,469 shares valued at approximately $23.9 million.
• Caterpillar's quarterly earnings report indicated a revenue of $14.25 billion but missed estimates, posting an earnings per share of $4.25, below the expected $4.35.
• The company announced an increase in its quarterly dividend from $1.41 to $1.51, reflecting an annual yield of 1.4% for shareholders.

Scotia Capital Inc. reduced its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,469 shares of the industrial products company's stock after selling 4,712 shares during the period. Scotia Capital Inc.'s holdings in Caterpillar were worth $23,900,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CAT. McIlrath & Eck LLC boosted its position in shares of Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after acquiring an additional 30 shares during the last quarter. Asset Management Group Inc. boosted its position in shares of Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after acquiring an additional 32 shares during the last quarter. Summit X LLC boosted its position in shares of Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after acquiring an additional 32 shares during the last quarter. Menard Financial Group LLC boosted its position in shares of Caterpillar by 1.0% during the 1st quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock valued at $1,019,000 after acquiring an additional 32 shares during the last quarter. Finally, Dunhill Financial LLC boosted its position in shares of Caterpillar by 21.3% during the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock valued at $75,000 after acquiring an additional 36 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

Shares of CAT stock opened at $428.85 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15. The stock has a 50 day moving average price of $385.66 and a two-hundred day moving average price of $354.22. The company has a market capitalization of $202.01 billion, a P/E ratio of 20.90, a PEG ratio of 2.68 and a beta of 1.40.

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 the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the previous year, the firm posted $5.60 EPS. The business's revenue for the quarter was down 9.8% compared to the same quarter last year. Analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.4%. Caterpillar's dividend payout ratio is presently 29.43%.

Insiders Place Their Bets

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction on Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CAT shares. Robert W. Baird lifted their price target on Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Oppenheimer lifted their price target on Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Citigroup reiterated a "buy" rating and set a $420.00 price target (up previously from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. Bank of America lifted their price target on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, Melius upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

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.

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