Connor Clark & Lunn Investment Management Ltd. Takes Position in Caterpillar Inc. (NYSE:CAT)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 33,786 shares of the industrial products company’s stock, valued at approximately $8,094,000.

Several other hedge funds have also modified their holdings of CAT. BCK Partners Inc. purchased a new stake in shares of Caterpillar during the first quarter valued at $2,580,000. Sei Investments Co. raised its position in Caterpillar by 17.3% during the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after buying an additional 9,695 shares during the period. Dakota Wealth Management acquired a new position in Caterpillar during the first quarter valued at $405,000. Mather Group LLC. raised its position in Caterpillar by 6.8% during the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock valued at $577,000 after buying an additional 165 shares during the period. Finally, NewEdge Advisors LLC increased its position in Caterpillar by 4.4% in the 1st quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after purchasing an additional 2,076 shares during the last quarter. 68.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CAT. UBS Group dropped their target price on Caterpillar from $210.00 to $208.00 in a research report on Friday, April 28th. BMO Capital Markets increased their price objective on Caterpillar from $210.00 to $230.00 in a report on Tuesday, February 7th. Evercore ISI lowered their price objective on Caterpillar from $288.00 to $263.00 in a report on Tuesday, May 9th. Credit Suisse Group increased their price objective on Caterpillar from $290.00 to $306.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Caterpillar from $228.00 to $225.00 and set a “hold” rating for the company in a research note on Wednesday, April 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $238.94.

Caterpillar Price Performance

NYSE:CAT opened at $209.98 on Friday. The company has a 50-day moving average of $217.25 and a 200-day moving average of $232.93. The company has a market capitalization of $108.22 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.99 and a beta of 1.09. Caterpillar Inc. has a 52 week low of $160.60 and a 52 week high of $266.04. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.43.

Caterpillar (NYSE:CAT – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The industrial products company reported $4.91 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $1.12. The company had revenue of $15.86 billion during the quarter, compared to the consensus estimate of $15.27 billion. Caterpillar had a net margin of 11.52% and a return on equity of 50.98%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned $2.88 EPS. As a group, equities research analysts anticipate that Caterpillar Inc. will post 17.64 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, April 24th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Friday, April 21st. Caterpillar’s dividend payout ratio (DPR) is currently 35.48%.

Caterpillar Company Profile

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Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.