Sei Investments Co. Increases Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• Sei Investments Co. increased its stake in Caterpillar Inc. by 3.2% during the first quarter, owning a total of 106,503 shares worth approximately $37 million.
• Caterpillar recently declared a quarterly dividend of $1.51 per share, up from the previous $1.41, reflecting its commitment to returning value to shareholders.
• Analysts have generally positive outlooks, with the consensus rating for Caterpillar at "Moderate Buy" and an average target price of $444.00, following several upgrades from various firms.

Sei Investments Co. grew its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,503 shares of the industrial products company's stock after purchasing an additional 3,312 shares during the quarter. Sei Investments Co.'s holdings in Caterpillar were worth $37,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAT. Kovitz Investment Group Partners LLC grew its position in shares of Caterpillar by 188.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 54,855 shares of the industrial products company's stock worth $18,091,000 after buying an additional 35,836 shares during the period. OneAscent Investment Solutions LLC acquired a new stake in shares of Caterpillar during the 1st quarter worth approximately $356,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Caterpillar by 1.4% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 101,846 shares of the industrial products company's stock worth $33,589,000 after buying an additional 1,400 shares during the period. Community Bank of Raymore grew its position in shares of Caterpillar by 1.9% during the 1st quarter. Community Bank of Raymore now owns 19,466 shares of the industrial products company's stock worth $6,420,000 after buying an additional 355 shares during the period. Finally, E Fund Management Co. Ltd. grew its position in shares of Caterpillar by 18.1% during the 1st quarter. E Fund Management Co. Ltd. now owns 6,210 shares of the industrial products company's stock worth $2,048,000 after buying an additional 950 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Caterpillar in a research report on Monday, July 14th. Evercore ISI reduced their price target on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a research report on Monday, May 19th. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Oppenheimer lifted their price target on shares of Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, DA Davidson lifted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $444.00.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the firm's stock in a transaction 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 of the company's stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $10.09 during mid-day trading on Friday, reaching $407.41. 3,105,803 shares of the company's stock were exchanged, compared to its average volume of 3,164,488. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15. The firm has a 50-day moving average price of $399.63 and a two-hundred day moving average price of $355.92. The firm has a market capitalization of $190.86 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40. 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 announced 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 net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the prior year, the firm posted $5.99 earnings per share. The company's revenue was down .7% on a year-over-year basis. Analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.5%. Caterpillar's payout ratio is currently 30.72%.

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.