Caterpillar Inc. (NYSE:CAT) Shares Sold by Natixis

Natixis lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 89.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,964 shares of the industrial products company’s stock after selling 24,906 shares during the quarter. Natixis’ holdings in Caterpillar were worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank bought a new stake in shares of Caterpillar in the 4th quarter worth about $1,660,560,000. International Assets Investment Management LLC increased its position in Caterpillar by 28,603.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after buying an additional 1,488,813 shares during the period. Capital Wealth Planning LLC boosted its holdings in shares of Caterpillar by 27,495.2% during the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after acquiring an additional 1,178,168 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Caterpillar by 19.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock worth $947,875,000 after acquiring an additional 529,420 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in Caterpillar by 5,293.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock valued at $142,620,000 after purchasing an additional 473,416 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other Caterpillar news, Director David Maclennan purchased 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now directly owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Maclennan bought 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. In the last three months, insiders have sold 24,863 shares of company stock worth $8,837,714. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock traded up $5.82 during trading hours on Friday, hitting $350.12. The stock had a trading volume of 159,555 shares, compared to its average volume of 2,710,526. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01. The company has a market cap of $171.23 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. The company has a 50-day moving average of $336.69 and a two-hundred day moving average of $335.26. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.61 EPS for the current fiscal year.

Caterpillar announced that its board has authorized a stock buyback program on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Analyst Ratings Changes

CAT has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Stifel Nicolaus lowered shares of Caterpillar from a “buy” rating to a “hold” rating and increased their target price for the company from $293.00 to $350.00 in a research report on Friday, April 26th. JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. HSBC raised their price objective on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Finally, The Goldman Sachs Group upped their price target on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $329.63.

Caterpillar Company 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.