Caterpillar Inc. $CAT Shares Purchased by Twin Capital Management Inc.

Twin Capital Management Inc. raised its stake in shares of Caterpillar Inc. (NYSE:CAT) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,468 shares of the industrial products company’s stock after buying an additional 725 shares during the quarter. Caterpillar comprises about 0.9% of Twin Capital Management Inc.’s investment portfolio, making the stock its 15th biggest position. Twin Capital Management Inc.’s holdings in Caterpillar were worth $6,708,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CAT. Diamant Asset Management Inc. lifted its position in shares of Caterpillar by 68,427.2% in the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock valued at $2,224,992,000 after acquiring an additional 3,136,020 shares in the last quarter. Capital International Investors purchased a new stake in Caterpillar during the 4th quarter worth about $1,225,317,000. Northwestern Mutual Wealth Management Co. raised its stake in Caterpillar by 573.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock valued at $861,947,000 after purchasing an additional 1,281,087 shares during the last quarter. Bank of America Corp DE lifted its holdings in Caterpillar by 16.0% in the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock valued at $3,860,457,000 after purchasing an additional 928,974 shares in the last quarter. Finally, Cynosure Group LLC boosted its stake in shares of Caterpillar by 8,359.6% during the 4th quarter. Cynosure Group LLC now owns 513,754 shares of the industrial products company’s stock worth $294,314,000 after purchasing an additional 507,681 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 2.1%

Shares of CAT stock opened at $914.19 on Thursday. The firm’s 50-day simple moving average is $931.98 and its 200-day simple moving average is $790.77. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. Caterpillar Inc. has a 1-year low of $403.32 and a 1-year high of $1,073.46. The firm has a market cap of $421.07 billion, a P/E ratio of 45.50, a PEG ratio of 1.83 and a beta of 1.57.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $17.41 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same period in the previous year, the firm earned $4.25 earnings per share. Caterpillar’s revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts forecast that Caterpillar Inc. will post 24.85 EPS for the current year.

Caterpillar Increases Dividend

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

Insider Buying and Selling at Caterpillar

In other news, CAO William E. Schaupp sold 360 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total transaction of $326,160.00. Following the completion of the sale, the chief accounting officer directly owned 530 shares in the company, valued at $480,180. This represents a 40.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 16,283 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total value of $14,928,254.40. Following the completion of the transaction, the insider directly owned 46,041 shares in the company, valued at $42,210,388.80. This trade represents a 26.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CAT shares. Truist Financial lifted their price target on shares of Caterpillar from $1,043.00 to $1,218.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. HSBC raised their target price on shares of Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. Barclays lifted their target price on shares of Caterpillar from $700.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Bank of America boosted their price target on Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Argus raised their price objective on Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $980.57.

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.