Twin Capital Management Inc. Grows Stock Holdings in Caterpillar Inc. $CAT

Twin Capital Management Inc. raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,468 shares of the industrial products company’s stock after acquiring an additional 725 shares during the period. Caterpillar makes up 0.9% of Twin Capital Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Twin Capital Management Inc.’s holdings in Caterpillar were worth $6,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lam Group Inc. purchased a new stake in shares of Caterpillar during the first quarter worth approximately $26,000. Torren Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth $27,000. Frazier Financial Advisors LLC grew its position in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after buying an additional 33 shares during the last quarter. IFS Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at $31,000. Finally, Rialto Wealth Management LLC increased its stake in Caterpillar by 47.4% in the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after buying an additional 18 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

NYSE:CAT opened at $914.19 on Thursday. The firm’s fifty day simple moving average is $931.98 and its 200-day simple moving average is $790.77. 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 stock has a market cap of $421.07 billion, a PE ratio of 45.50, a price-to-earnings-growth ratio of 1.83 and a beta of 1.57. Caterpillar Inc. has a fifty-two week low of $403.32 and a fifty-two week high of $1,073.46.

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

Caterpillar Increases Dividend

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

Insider Transactions at Caterpillar

In other Caterpillar news, insider Denise C. Johnson sold 12,605 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total value of $11,444,205.55. Following the sale, the insider owned 49,825 shares of the company’s stock, valued at approximately $45,236,615.75. This represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lange Bob De sold 24,222 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total value of $22,354,968.24. Following the completion of the transaction, the insider owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. This represents a 21.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 95,773 shares of company stock worth $87,642,635 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAT. Jefferies Financial Group raised their target price on shares of Caterpillar from $900.00 to $1,045.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. DA Davidson increased their price target on shares of Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Barclays raised their price objective on shares of Caterpillar from $700.00 to $800.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Oppenheimer lifted their price objective on Caterpillar from $980.00 to $1,105.00 and gave the company an “outperform” rating in a report on Monday. Finally, Evercore reiterated an “outperform” rating and set a $1,103.00 target price on shares of Caterpillar in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $980.57.

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.