Illinois Municipal Retirement Fund Raises Stock Holdings in Caterpillar Inc. $CAT

Illinois Municipal Retirement Fund raised its stake in Caterpillar Inc. (NYSE:CAT) by 8.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,038 shares of the industrial products company’s stock after purchasing an additional 2,025 shares during the period. Illinois Municipal Retirement Fund’s holdings in Caterpillar were worth $19,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Cornerstone Advisory LLC lifted its holdings in shares of Caterpillar by 0.7% during the 1st quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock valued at $1,288,000 after purchasing an additional 12 shares during the last quarter. Advisory Resource Group grew its stake in Caterpillar by 0.8% during the 4th quarter. Advisory Resource Group now owns 1,632 shares of the industrial products company’s stock worth $935,000 after buying an additional 13 shares during the last quarter. Sunbeam Capital Management LLC increased its position in Caterpillar by 1.1% during the 1st quarter. Sunbeam Capital Management LLC now owns 1,164 shares of the industrial products company’s stock valued at $825,000 after buying an additional 13 shares in the last quarter. Brandywine Oak Private Wealth LLC increased its position in Caterpillar by 2.6% during the 1st quarter. Brandywine Oak Private Wealth LLC now owns 506 shares of the industrial products company’s stock valued at $358,000 after buying an additional 13 shares in the last quarter. Finally, Sylvest Advisors LLC raised its stake in Caterpillar by 3.6% in the first quarter. Sylvest Advisors LLC now owns 377 shares of the industrial products company’s stock valued at $267,000 after buying an additional 13 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CAT shares. Wells Fargo & Company boosted their price target on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 23rd. Daiwa Securities Group increased their price objective on shares of Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. DA Davidson lifted their target price on shares of Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. HSBC boosted their target price on shares of Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. Finally, Bank of America raised their price target on shares of Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $980.57.

Insider Transactions at Caterpillar

In related news, insider Denise C. Johnson sold 12,605 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the transaction, the insider owned 49,825 shares of the company’s stock, valued at $45,236,615.75. This trade represents a 20.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 16,283 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the transaction, the insider owned 46,041 shares of the company’s stock, valued at $42,210,388.80. This represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 95,773 shares of company stock valued at $87,642,635. 0.33% of the stock is owned by corporate insiders.

Caterpillar Trading Down 2.1%

Shares of NYSE:CAT opened at $914.19 on Thursday. Caterpillar Inc. has a 52-week low of $403.32 and a 52-week high of $1,073.46. The stock has a market cap of $421.07 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 1.83 and a beta of 1.57. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The business has a 50-day moving average price of $931.98 and a 200-day moving average price of $790.77.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, beating analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm had revenue of $17.41 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same quarter in the prior year, the firm earned $4.25 earnings per share. Caterpillar’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts predict that Caterpillar Inc. will post 24.85 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be issued a $1.63 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Monday, July 20th. This represents a $6.52 annualized dividend and a dividend yield of 0.7%. Caterpillar’s payout ratio is currently 30.06%.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.