Los Angeles Capital Management LLC Has $223.60 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Los Angeles Capital Management LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 22.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 756,235 shares of the industrial products company’s stock after selling 215,413 shares during the quarter. Caterpillar comprises about 0.8% of Los Angeles Capital Management LLC’s portfolio, making the stock its 22nd biggest position. Los Angeles Capital Management LLC’s holdings in Caterpillar were worth $223,596,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Gilfoyle & Co LLC acquired a new position in Caterpillar during the 4th quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $39,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Caterpillar in the third quarter worth approximately $41,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Caterpillar in the fourth quarter worth approximately $41,000. Finally, Rational Advisors LLC purchased a new stake in shares of Caterpillar in the third quarter worth approximately $42,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the sale, the insider now owns 23,474 shares in the company, valued at $7,741,725.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the sale, the chief financial officer now owns 57,317 shares in the company, valued at $17,774,001.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the sale, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,769 shares of company stock worth $11,508,906 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded up $2.83 during trading on Thursday, hitting $333.90. 1,007,941 shares of the company were exchanged, compared to its average volume of 2,507,641. The company has a market cap of $163.29 billion, a PE ratio of 14.95, a P/E/G ratio of 1.44 and a beta of 1.19. The stock has a 50 day moving average of $351.36 and a 200 day moving average of $302.43. Caterpillar Inc. has a 52-week low of $205.60 and a 52-week high of $382.01. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, equities research analysts predict that Caterpillar Inc. will post 21.6 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.56%. Caterpillar’s dividend payout ratio is currently 23.48%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CAT. Oppenheimer reissued a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. HSBC increased their price objective on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and increased their price objective for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. Citigroup upped their target price on Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Finally, Evercore ISI lowered Caterpillar from an “outperform” rating to an “in-line” rating and upped their target price for the company from $321.00 to $338.00 in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $323.35.

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.