Illinois Municipal Retirement Fund Grows Stock Position in Caterpillar Inc. $CAT

Illinois Municipal Retirement Fund raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,081 shares of the industrial products company’s stock after acquiring an additional 585 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Caterpillar were worth $6,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Aire Advisors LLC raised its position in shares of Caterpillar by 0.3% during the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after purchasing an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its position in Caterpillar by 0.5% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after buying an additional 25 shares in the last quarter. Redwood Wealth Management Group LLC raised its holdings in shares of Caterpillar by 0.9% in the second quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock worth $1,036,000 after acquiring an additional 25 shares during the last quarter. Tsfg LLC lifted its position in shares of Caterpillar by 9.8% in the second quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 25 shares in the last quarter. Finally, GSB Wealth Management LLC boosted its stake in shares of Caterpillar by 1.2% during the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after acquiring an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 0.5%

Shares of CAT opened at $567.82 on Wednesday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The company’s fifty day moving average is $497.84 and its two-hundred day moving average is $423.30. The firm has a market cap of $265.73 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. During the same period in the prior year, the firm posted $5.17 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is currently 31.01%.

Insider Buying and Selling at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the transaction, the insider directly owned 80,209 shares in the company, valued at approximately $45,106,333.24. This trade represents a 15.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 69,662 shares of company stock worth $33,575,140. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CAT shares. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research note on Wednesday, November 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a research report on Tuesday, October 14th. Oppenheimer raised their target price on shares of Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Barclays lifted their target price on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Finally, Hsbc Global Res upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $596.59.

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.