Capital Investment Advisors LLC Increases Position in Caterpillar Inc. (NYSE:CAT)

Capital Investment Advisors LLC lifted its holdings in Caterpillar Inc. (NYSE:CATGet Rating) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,317 shares of the industrial products company’s stock after buying an additional 482 shares during the period. Capital Investment Advisors LLC’s holdings in Caterpillar were worth $9,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC boosted its stake in shares of Caterpillar by 2.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 2,796 shares of the industrial products company’s stock worth $623,000 after buying an additional 78 shares during the last quarter. TIAA FSB lifted its stake in Caterpillar by 245.1% in the first quarter. TIAA FSB now owns 91,802 shares of the industrial products company’s stock valued at $20,407,000 after purchasing an additional 65,202 shares during the last quarter. Webster Bank N. A. lifted its stake in Caterpillar by 3.3% in the first quarter. Webster Bank N. A. now owns 15,102 shares of the industrial products company’s stock valued at $3,365,000 after purchasing an additional 484 shares during the last quarter. Abacus Planning Group Inc. lifted its stake in Caterpillar by 5.3% in the first quarter. Abacus Planning Group Inc. now owns 3,061 shares of the industrial products company’s stock valued at $682,000 after purchasing an additional 153 shares during the last quarter. Finally, Carret Asset Management LLC lifted its stake in Caterpillar by 10.0% in the first quarter. Carret Asset Management LLC now owns 2,762 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Several research firms recently commented on CAT. JPMorgan Chase & Co. upped their price objective on Caterpillar from $241.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, March 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on Caterpillar from $250.00 to $240.00 in a research note on Friday, April 29th. Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Caterpillar in a research report on Thursday, May 19th. Jefferies Financial Group upgraded Caterpillar from a “hold” rating to a “buy” rating and increased their target price for the stock from $215.00 to $260.00 in a research report on Tuesday, March 8th. Finally, StockNews.com initiated coverage on Caterpillar in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and an average price target of $243.71.

CAT opened at $187.83 on Thursday. The stock has a market cap of $100.18 billion, a PE ratio of 15.74, a P/E/G ratio of 1.29 and a beta of 0.94. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 1.48. Caterpillar Inc. has a 52 week low of $179.67 and a 52 week high of $237.90. The business’s fifty day simple moving average is $212.90 and its 200 day simple moving average is $210.54.

Caterpillar (NYSE:CATGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.22. Caterpillar had a net margin of 12.33% and a return on equity of 35.10%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.49 billion. During the same period in the prior year, the business posted $2.87 earnings per share. The company’s revenue was up 14.4% on a year-over-year basis. As a group, equities analysts anticipate that Caterpillar Inc. will post 12.64 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be issued a dividend of $1.20 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.11. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Tuesday, July 19th. Caterpillar’s dividend payout ratio is currently 37.22%.

In other Caterpillar news, insider Joseph E. Creed sold 5,004 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $235.00, for a total value of $1,175,940.00. Following the completion of the sale, the insider now directly owns 2,757 shares in the company, valued at $647,895. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph E. Creed sold 2,757 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total transaction of $590,356.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,577 shares of company stock valued at $2,663,056. 0.18% of the stock is currently owned by company insiders.

Caterpillar Company Profile (Get Rating)

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

See Also

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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