Caterpillar Inc. (NYSE:CAT) Shares Acquired by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 40.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 599 shares of the industrial products company’s stock after acquiring an additional 172 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Caterpillar were worth $198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Caterpillar by 43,447.3% in the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock worth $1,230,239,000 after buying an additional 3,721,693 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Caterpillar by 2,723.1% during the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after purchasing an additional 1,364,183 shares during the period. Nuveen LLC acquired a new position in shares of Caterpillar during the first quarter valued at $391,788,000. Capital Research Global Investors increased its holdings in shares of Caterpillar by 69.3% during the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company’s stock valued at $1,060,730,000 after purchasing an additional 1,196,861 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Caterpillar by 11.8% during the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock valued at $2,483,937,000 after purchasing an additional 724,477 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Trading Up 0.2%

NYSE CAT opened at $413.67 on Thursday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $193.80 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.46 and a beta of 1.40. The firm’s fifty day simple moving average is $397.18 and its 200-day simple moving average is $355.91.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.99 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 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 20th. Stockholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This represents a $6.04 annualized dividend and a dividend yield of 1.5%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio is presently 30.72%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Bank of America raised their target price on Caterpillar from $460.00 to $495.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Morgan Stanley raised Caterpillar from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Finally, Oppenheimer lifted their price target on Caterpillar from $395.00 to $483.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $444.00.

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.