Zimmer Partners LP Boosts Stake in Caterpillar Inc. (NYSE:CAT)

Zimmer Partners LP lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 50.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,120 shares of the industrial products company's stock after purchasing an additional 10,120 shares during the quarter. Zimmer Partners LP's holdings in Caterpillar were worth $10,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FSM Wealth Advisors LLC boosted its holdings in shares of Caterpillar by 3.8% in the 4th quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company's stock worth $262,000 after purchasing an additional 25 shares in the last quarter. Allen Capital Group LLC boosted its holdings in shares of Caterpillar by 0.6% in the 4th quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company's stock worth $1,541,000 after purchasing an additional 26 shares in the last quarter. Wagner Wealth Management LLC boosted its holdings in shares of Caterpillar by 4.0% in the 4th quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company's stock worth $242,000 after purchasing an additional 26 shares in the last quarter. Total Clarity Wealth Management Inc. boosted its holdings in shares of Caterpillar by 0.6% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company's stock worth $1,586,000 after purchasing an additional 27 shares in the last quarter. Finally, Magnolia Capital Advisors LLC boosted its holdings in shares of Caterpillar by 3.3% in the 4th quarter. Magnolia Capital Advisors LLC now owns 857 shares of the industrial products company's stock worth $311,000 after purchasing an additional 27 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CAT shares. Wedbush upgraded Caterpillar to an "outperform" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating for the company in a report on Monday, April 14th. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and increased their target price for the company from $272.00 to $357.00 in a report on Friday. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, StockNews.com cut Caterpillar from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $375.33.

Insider Activity at Caterpillar

In other news, Director David Maclennan purchased 375 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the transaction, the director now directly owns 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 can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

Shares of CAT stock opened at $352.45 on Tuesday. The firm has a market cap of $166.02 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $418.50. The business's 50 day moving average price is $317.70 and its 200-day moving average price is $353.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results 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 16.65% and a return on equity of 58.18%. The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the prior year, the firm earned $5.60 earnings per share. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.60%. Caterpillar's dividend payout ratio is presently 27.49%.

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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