Caterpillar Inc. (NYSE:CAT) Stock Holdings Raised by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Caterpillar Inc. by 4.7% in Q1, acquiring an additional 12,352 shares, bringing its total ownership to approximately 275,378 shares valued at $90.82 million.
• Caterpillar reported $4.25 earnings per share for the last quarter, missing expectations of $4.35, and had a quarterly revenue of $14.25 billion, down 9.8% year-over-year.
• The company announced a quarterly dividend increase to $1.51 per share, reflecting a positive shift from its previous dividend of $1.41, with an anticipated annual yield of 1.39%.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 275,378 shares of the industrial products company's stock after purchasing an additional 12,352 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Caterpillar worth $90,820,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in Caterpillar during the fourth quarter worth $33,000. Curat Global LLC acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $33,000. Redmont Wealth Advisors LLC acquired a new stake in Caterpillar during the first quarter worth approximately $33,000. Quarry LP acquired a new stake in Caterpillar during the fourth quarter worth approximately $35,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Caterpillar during the fourth quarter worth approximately $36,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 375 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Up 1.3%

Shares of CAT stock traded up $5.81 during trading hours on Wednesday, reaching $435.86. The company had a trading volume of 1,181,265 shares, compared to its average volume of 2,672,469. The company has a market capitalization of $205.31 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 2.71 and a beta of 1.38. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $436.40. The stock's fifty day simple moving average is $380.25 and its 200 day simple moving average is $352.87. 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 (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 (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The business's quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the firm earned $5.60 EPS. As a group, sell-side analysts expect 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. Investors of record on Monday, July 21st will be issued a $1.51 dividend. 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 1.39%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 29.43%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $395.00 to $475.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. Bank of America boosted their target price on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $419.33.

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.