Caterpillar Inc. $CAT Stock Position Raised by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 30.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,497 shares of the industrial products company’s stock after acquiring an additional 9,236 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Caterpillar were worth $27,982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FreeGulliver LLC bought a new position in shares of Caterpillar during the first quarter valued at approximately $241,000. Van Diest Capital LLC bought a new stake in shares of Caterpillar in the 1st quarter worth approximately $394,000. Lombard Odier Asset Management Switzerland SA acquired a new position in Caterpillar during the 1st quarter valued at approximately $7,981,000. Waverly Advisors LLC boosted its position in Caterpillar by 116.4% during the 1st quarter. Waverly Advisors LLC now owns 104,253 shares of the industrial products company’s stock valued at $73,860,000 after purchasing an additional 56,087 shares during the period. Finally, St. Louis Trust Co grew its stake in Caterpillar by 24.1% during the 1st quarter. St. Louis Trust Co now owns 1,952 shares of the industrial products company’s stock worth $1,383,000 after buying an additional 379 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CAT shares. Truist Financial raised their target price on Caterpillar from $1,043.00 to $1,218.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Citigroup lifted their price objective on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Rothschild & Co Redburn upped their target price on shares of Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wolfe Research lifted their price target on Caterpillar from $670.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Finally, UBS Group reissued a “neutral” rating and issued a $900.00 price objective on shares of Caterpillar in a report on Tuesday, June 2nd. Fifteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $980.57.

Caterpillar Trading Down 0.6%

Shares of NYSE:CAT opened at $889.23 on Friday. The company has a 50 day moving average of $928.88 and a 200-day moving average of $804.12. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The firm has a market cap of $409.57 billion, a P/E ratio of 44.26, a P/E/G ratio of 1.74 and a beta of 1.57. Caterpillar Inc. has a twelve month low of $405.46 and a twelve month high of $1,073.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data 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 net margin of 13.33% and a return on equity of 48.21%. The business had revenue of $17.41 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same quarter last year, the business earned $4.25 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 24.87 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. Stockholders of record on Monday, July 20th will be given a dividend of $1.63 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. This represents a $6.52 annualized dividend and a dividend yield of 0.7%. Caterpillar’s payout ratio is 32.45%.

Insider Activity at Caterpillar

In other news, insider Denise C. Johnson sold 12,605 shares of the business’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. The trade was a 20.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lange Bob De sold 24,222 shares of the company’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 sale, the insider owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. This trade represents a 21.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 95,773 shares of company stock worth $87,642,635 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.