Gotham Asset Management LLC Reduces Stock Position in Caterpillar Inc. (NYSE:CAT)

Gotham Asset Management LLC reduced its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,020 shares of the industrial products company's stock after selling 1,336 shares during the period. Caterpillar makes up 0.3% of Gotham Asset Management LLC's portfolio, making the stock its 29th largest holding. Gotham Asset Management LLC's holdings in Caterpillar were worth $27,214,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Caterpillar in the 4th quarter valued at $2,184,364,000. Capital Research Global Investors increased its position in shares of Caterpillar by 69.3% during the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock worth $1,060,730,000 after purchasing an additional 1,196,861 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Caterpillar in the fourth quarter valued at about $353,231,000. Proficio Capital Partners LLC lifted its stake in shares of Caterpillar by 50,072.7% during the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after buying an additional 803,166 shares during the period. Finally, Northern Trust Corp lifted its position in Caterpillar by 11.8% during the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after purchasing an additional 724,477 shares during the period. 70.98% of the stock is owned by institutional investors.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Maclennan purchased 375 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company's stock.

Caterpillar Stock Up 2.6%

Shares of Caterpillar stock traded up $8.83 during trading on Tuesday, hitting $351.38. 731,203 shares of the stock were exchanged, compared to its average volume of 2,624,338. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The firm's 50-day moving average price is $316.84 and its 200 day moving average price is $354.65. The stock has a market cap of $165.52 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data 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). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business had revenue of $14.25 billion for the quarter, compared to analysts' expectations of $14.64 billion. During the same period in the previous year, the business posted $5.60 earnings per share. The company's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be given a $1.41 dividend. The ex-dividend date is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.61%. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Wall Street Analyst Weigh In

CAT has been the subject of several analyst reports. Baird R W upgraded shares of Caterpillar from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 1st. Wedbush upgraded shares of Caterpillar to an "outperform" rating in a research note on Monday, February 3rd. Morgan Stanley upgraded shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $377.83.

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.