Fifth Third Bancorp Purchases 16,239 Shares of Caterpillar Inc. (NYSE:CAT)

Fifth Third Bancorp raised its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 502,108 shares of the industrial products company's stock after buying an additional 16,239 shares during the period. Fifth Third Bancorp owned about 0.10% of Caterpillar worth $183,987,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CAT. Partnership Wealth Management LLC bought a new position in Caterpillar during the 4th quarter worth $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar during the fourth quarter valued at about $27,000. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar during the first quarter worth about $27,000. Gilfoyle & Co LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $30,000. Finally, Vima LLC acquired a new stake in Caterpillar during the 4th quarter worth approximately $30,000. Institutional investors own 70.98% of the company's stock.

Caterpillar Stock Up 1.3 %

NYSE:CAT traded up $4.37 on Thursday, hitting $335.44. The stock had a trading volume of 2,393,787 shares, compared to its average volume of 2,524,704. The company has a market cap of $164.05 billion, a PE ratio of 15.14, a P/E/G ratio of 1.44 and a beta of 1.19. Caterpillar Inc. has a 52 week low of $205.60 and a 52 week high of $382.01. The business's fifty day moving average is $351.63 and its 200 day moving average is $302.65. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. On average, equities research analysts expect that Caterpillar Inc. will post 21.6 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, April 22nd will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.55%. Caterpillar's dividend payout ratio is presently 23.48%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares in the company, valued at approximately $7,741,725.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares in the company, valued at $7,741,725.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David Maclennan bought 350 shares of the business's stock in a transaction on Friday, February 23rd. The shares were acquired at an average price of $323.37 per share, with a total value of $113,179.50. Following the transaction, the director now directly owns 5,238 shares of the company's stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. In the last quarter, insiders sold 35,769 shares of company stock worth $11,508,906. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus downgraded shares of Caterpillar from a "buy" rating to a "hold" rating and raised their price target for the company from $293.00 to $350.00 in a research note on Friday, April 26th. Citigroup lifted their target price on Caterpillar from $255.00 to $340.00 and gave the stock a "neutral" rating in a report on Monday, February 12th. TD Cowen increased their price target on Caterpillar from $338.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, April 26th. StockNews.com lowered Caterpillar from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley began coverage on shares of Caterpillar in a report on Monday, January 8th. They set an "equal weight" rating and a $270.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Hold" and an average target price of $323.35.

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.

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