Caterpillar Inc. $CAT Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Caterpillar Inc. (NYSE:CAT) by 19.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,309 shares of the industrial products company’s stock after selling 6,308 shares during the period. Intech Investment Management LLC’s holdings in Caterpillar were worth $15,072,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Caterpillar by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company’s stock valued at $26,572,681,000 after buying an additional 442,164 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Caterpillar by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 10,610,182 shares of the industrial products company’s stock valued at $6,072,572,000 after buying an additional 94,524 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Caterpillar by 0.6% in the 4th quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company’s stock valued at $5,438,408,000 after buying an additional 54,069 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Caterpillar by 3,949.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after buying an additional 5,098,964 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Caterpillar by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 2,802,068 shares of the industrial products company’s stock valued at $1,337,007,000 after buying an additional 58,993 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Down 1.7%

CAT stock opened at $872.61 on Friday. Caterpillar Inc. has a 52 week low of $339.50 and a 52 week high of $931.35. The company has a market capitalization of $401.91 billion, a price-to-earnings ratio of 43.43, a price-to-earnings-growth ratio of 1.75 and a beta of 1.63. The firm’s 50-day moving average is $811.10 and its two-hundred day moving average is $702.31. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The company had revenue of $17.42 billion for the quarter, compared to the consensus estimate of $16.53 billion. During the same period in the previous year, the firm earned $4.25 EPS. Caterpillar’s revenue was up 22.2% on a year-over-year basis. On average, analysts forecast that Caterpillar Inc. will post 24.67 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, April 20th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, April 20th. Caterpillar’s payout ratio is 30.06%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 24,222 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the sale, the insider directly owned 86,029 shares in the company, valued at approximately $79,397,884.68. The trade was a 21.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denise C. Johnson sold 12,605 shares of the business’s 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 owned 49,825 shares in the company, valued at $45,236,615.75. This trade represents a 20.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 98,273 shares of company stock worth $89,439,960 in the last three months. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

CAT has been the topic of several recent research reports. CICC Research initiated coverage on shares of Caterpillar in a research report on Friday, February 6th. They issued an “outperform” rating on the stock. Argus lifted their price objective on shares of Caterpillar from $820.00 to $990.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Robert W. Baird lifted their price objective on shares of Caterpillar from $940.00 to $1,165.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Wells Fargo & Company lifted their price objective on shares of Caterpillar from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Daiwa Securities Group lifted their price objective on shares of Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $923.14.

Caterpillar Profile

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.