Caterpillar Inc. (NYSE:CAT) Shares Purchased by Webster Bank N. A.

Webster Bank N. A. boosted its stake in Caterpillar Inc. (NYSE:CAT) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,619 shares of the industrial products company’s stock after acquiring an additional 56 shares during the period. Webster Bank N. A.’s holdings in Caterpillar were worth $5,357,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC bought a new position in shares of Caterpillar during the fourth quarter worth about $26,000. Richardson Financial Services Inc. bought a new position in Caterpillar in the 4th quarter valued at about $27,000. Thompson Investment Management Inc. bought a new position in Caterpillar in the 1st quarter valued at about $27,000. Gilfoyle & Co LLC bought a new position in Caterpillar in the 4th quarter valued at about $30,000. Finally, Vima LLC bought a new position in Caterpillar in the 4th quarter valued at about $30,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Up 1.7 %

NYSE:CAT traded up $5.64 on Friday, hitting $333.10. 8,891,479 shares of the company’s stock traded hands, compared to its average volume of 3,519,845. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The firm has a 50-day moving average price of $340.31 and a 200-day moving average price of $328.57. The company has a market cap of $162.90 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Equities analysts anticipate that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.69%. Caterpillar’s payout ratio is presently 23.48%.

Caterpillar announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on CAT. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group increased their target price on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. HSBC increased their target price on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Raymond James initiated coverage on shares of Caterpillar in a research report on Friday. They set a “market perform” rating for the company. Finally, Citigroup initiated coverage on shares of Caterpillar in a research report on Wednesday. They set a “buy” rating and a $380.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $329.63.

Insider Activity at Caterpillar

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

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.