RMB Capital Management LLC Increases Holdings in Caterpillar Inc. (NYSE:CAT)

RMB Capital Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 29.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,329 shares of the industrial products company’s stock after purchasing an additional 1,197 shares during the quarter. RMB Capital Management LLC’s holdings in Caterpillar were worth $1,236,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. Brand Asset Management Group Inc. purchased a new position in Caterpillar during the first quarter worth about $26,000. IronBridge Private Wealth LLC purchased a new position in Caterpillar during the fourth quarter worth about $30,000. HBC Financial Services PLLC purchased a new position in Caterpillar during the fourth quarter worth about $31,000. Oder Investment Management LLC purchased a new position in Caterpillar during the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc grew its position in Caterpillar by 51.0% during the first quarter. Versant Capital Management Inc now owns 145 shares of the industrial products company’s stock worth $34,000 after buying an additional 49 shares in the last quarter. Institutional investors own 68.22% of the company’s stock.

In other news, Director David Maclennan bought 420 shares of Caterpillar stock in a transaction on Wednesday, May 5th. The shares were purchased at an average price of $237.86 per share, for a total transaction of $99,901.20. Following the acquisition, the director now owns 890 shares of the company’s stock, valued at $211,695.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph E. Creed sold 7,699 shares of the company’s stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $245.12, for a total value of $1,887,178.88. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

CAT opened at $225.73 on Friday. The firm’s 50 day simple moving average is $235.44. The company has a market cap of $123.65 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 2.07 and a beta of 0.93. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.60 and a quick ratio of 1.15. Caterpillar Inc. has a one year low of $118.01 and a one year high of $246.69.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 29th. The industrial products company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.94. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11 billion. Caterpillar had a return on equity of 26.63% and a net margin of 7.99%. Caterpillar’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 EPS. On average, analysts anticipate that Caterpillar Inc. will post 9.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 20th. Shareholders of record on Tuesday, July 20th will be given a dividend of $1.11 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, July 19th. This represents a $4.44 dividend on an annualized basis and a yield of 1.97%. Caterpillar’s dividend payout ratio is presently 62.80%.

Several research firms recently commented on CAT. The Goldman Sachs Group restated a “buy” rating and set a $264.00 target price on shares of Caterpillar in a research report on Thursday, May 27th. BMO Capital Markets boosted their target price on Caterpillar from $190.00 to $230.00 and gave the stock a “market perform” rating in a research report on Friday, April 30th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on Caterpillar from $205.00 to $245.00 in a research report on Tuesday, March 16th. UBS Group lifted their price target on Caterpillar from $230.00 to $252.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 12th. Finally, Morgan Stanley lifted their price target on Caterpillar from $168.00 to $181.00 and gave the stock an “underweight” rating in a research note on Friday, April 30th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $219.29.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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