Rakuten Investment Management Inc. Raises Holdings in Caterpillar Inc. $CAT

Rakuten Investment Management Inc. boosted its stake in Caterpillar Inc. (NYSE:CAT) by 408.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,583 shares of the industrial products company’s stock after buying an additional 49,474 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Caterpillar were worth $35,633,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Torren Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter valued at $27,000. Frazier Financial Advisors LLC lifted its holdings in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 33 shares in the last quarter. IFS Advisors LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth about $31,000. Rialto Wealth Management LLC grew its holdings in shares of Caterpillar by 47.4% during the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after buying an additional 18 shares in the last quarter. Finally, Cornerstone Financial Management LLC acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 2.5%

CAT stock opened at $933.46 on Tuesday. The firm’s 50-day simple moving average is $856.17 and its 200 day simple moving average is $730.40. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market cap of $429.94 billion, a PE ratio of 46.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59. Caterpillar Inc. has a fifty-two week low of $356.96 and a fifty-two week high of $946.83.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, beating the consensus estimate of $4.65 by $0.89. The business had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.25 earnings per share. As a group, sell-side analysts predict that Caterpillar Inc. will post 24.62 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.7%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio is presently 30.06%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CAT shares. Morgan Stanley set a $915.00 target price on shares of Caterpillar and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Williams Trading set a $825.00 price objective on Caterpillar in a report on Tuesday, March 10th. Rothschild & Co Redburn upped their target price on Caterpillar from $700.00 to $950.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Jefferies Financial Group lifted their price target on Caterpillar from $900.00 to $1,045.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Caterpillar from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $933.27.

Insiders Place Their Bets

In related news, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the sale, the insider directly owned 49,825 shares of the company’s stock, valued at $45,236,615.75. This trade represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Schaupp sold 360 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total transaction of $326,160.00. Following the transaction, the chief accounting officer directly owned 530 shares of the company’s stock, valued at $480,180. The trade was a 40.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,773 shares of company stock worth $87,642,635 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.