Myriad Asset Management US LP Buys Shares of 2,647 Caterpillar Inc. $CAT

Myriad Asset Management US LP purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,647 shares of the industrial products company’s stock, valued at approximately $1,263,000.

Several other large investors have also recently modified their holdings of CAT. Fisher Asset Management LLC raised its holdings in Caterpillar by 2.3% during the 2nd quarter. Fisher Asset Management LLC now owns 9,418,321 shares of the industrial products company’s stock valued at $3,656,286,000 after acquiring an additional 208,196 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Caterpillar by 36,842.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after purchasing an additional 7,279,991 shares during the period. Norges Bank bought a new position in shares of Caterpillar in the second quarter worth $2,165,899,000. Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock valued at $1,295,432,000 after acquiring an additional 33,467 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Caterpillar by 4.5% in the second quarter. Invesco Ltd. now owns 3,282,720 shares of the industrial products company’s stock worth $1,274,385,000 after purchasing an additional 140,784 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CAT shares. Raymond James Financial reaffirmed a “market perform” rating on shares of Caterpillar in a report on Wednesday, January 7th. HSBC upgraded Caterpillar from a “hold” rating to a “buy” rating and boosted their target price for the stock from $405.00 to $660.00 in a research report on Wednesday, November 5th. UBS Group lifted their price target on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Jefferies Financial Group boosted their price objective on shares of Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $633.35.

Caterpillar Stock Performance

Shares of CAT opened at $648.27 on Friday. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $655.78. The business’s fifty day simple moving average is $592.97 and its two-hundred day simple moving average is $508.92. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 1.34. The company has a market cap of $303.38 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 2.49 and a beta of 1.57.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Monday, November 3rd. The industrial products company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $16.72 billion. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.Caterpillar’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company earned $5.17 EPS. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Tuesday, January 20th will be given a $1.51 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.04 annualized dividend and a yield of 0.9%. Caterpillar’s dividend payout ratio (DPR) is presently 31.01%.

Insider Buying and Selling at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $575.06, for a total value of $5,750,600.00. Following the completion of the sale, the chief financial officer directly owned 45,460 shares of the company’s stock, valued at approximately $26,142,227.60. This represents a 18.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony D. Fassino sold 8,184 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the transaction, the insider owned 41,512 shares in the company, valued at $23,669,312.16. The trade was a 16.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 54,729 shares of company stock worth $31,084,308. Insiders own 0.33% of the company’s stock.

Caterpillar Company 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.