Zimmer Partners LP Increases Holdings in Caterpillar Inc. (NYSE:CAT)

Zimmer Partners LP raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 50.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,120 shares of the industrial products company’s stock after buying an additional 10,120 shares during the quarter. Zimmer Partners LP’s holdings in Caterpillar were worth $10,926,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CAT. FSM Wealth Advisors LLC raised its stake in shares of Caterpillar by 3.8% in the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 25 shares during the last quarter. Allen Capital Group LLC raised its stake in shares of Caterpillar by 0.6% in the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after purchasing an additional 26 shares during the last quarter. Wagner Wealth Management LLC raised its stake in shares of Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 26 shares during the last quarter. Total Clarity Wealth Management Inc. raised its stake in shares of Caterpillar by 0.6% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after purchasing an additional 27 shares during the last quarter. Finally, Magnolia Capital Advisors LLC raised its stake in shares of Caterpillar by 3.3% in the fourth quarter. Magnolia Capital Advisors LLC now owns 857 shares of the industrial products company’s stock worth $311,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE CAT opened at $352.45 on Tuesday. The firm has a market cap of $166.02 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.87 and a beta of 1.35. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average price of $317.70 and a 200-day moving average price of $353.57. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business’s revenue was down 9.8% on a year-over-year basis. During the same period last year, the company earned $5.60 EPS. As a group, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be paid a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Monday, April 21st. Caterpillar’s dividend payout ratio (DPR) is 27.49%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley upgraded Caterpillar from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Baird R W upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. DA Davidson upped their price objective on Caterpillar from $325.00 to $331.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Citigroup upped their price objective on Caterpillar from $320.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, Robert W. Baird upgraded Caterpillar from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $309.00 to $395.00 in a research report on Tuesday, May 13th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $375.33.

Insider Transactions at Caterpillar

In other Caterpillar news, Director David Maclennan acquired 375 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares in the company, valued at approximately $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.