Caterpillar Inc. (NYSE:CAT) Shares Acquired by CRA Financial Services LLC

CRA Financial Services LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 12.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,368 shares of the industrial products company’s stock after buying an additional 500 shares during the quarter. CRA Financial Services LLC’s holdings in Caterpillar were worth $1,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Southland Equity Partners LLC lifted its holdings in Caterpillar by 4.0% in the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 30 shares during the last quarter. Davis Investment Partners LLC lifted its stake in Caterpillar by 2.1% in the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after buying an additional 30 shares during the last quarter. McIlrath & Eck LLC boosted its stake in Caterpillar by 4.4% during the 4th quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 33 shares during the period. Versant Capital Management Inc boosted its position in shares of Caterpillar by 7.4% during the first quarter. Versant Capital Management Inc now owns 480 shares of the industrial products company’s stock worth $176,000 after buying an additional 33 shares during the period. Finally, Lodestar Private Asset Management LLC grew its stake in shares of Caterpillar by 4.4% in the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 1.7 %

Shares of CAT traded up $5.64 during midday trading on Friday, reaching $333.10. 8,891,479 shares of the stock were exchanged, compared to its average volume of 3,519,845. The company has a market cap of $162.90 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.71 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The firm has a 50 day simple moving average of $340.31 and a 200-day simple moving average of $329.04.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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. The firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. Research analysts forecast that Caterpillar Inc. will post 21.84 EPS for the current year.

Caterpillar declared that its board has authorized a share buyback program on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a $1.41 dividend. The ex-dividend date is Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 1.69%. Caterpillar’s dividend payout ratio is currently 25.46%.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director David Maclennan purchased 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now directly owns 5,738 shares in the company, valued at approximately $1,935,943.82. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. The Goldman Sachs Group increased their price target on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup assumed coverage on Caterpillar in a report on Wednesday. They set a “buy” rating and a $380.00 price objective on the stock. Raymond James assumed coverage on shares of Caterpillar in a report on Friday. They issued a “market perform” rating for the company. Finally, HSBC boosted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus target price of $329.63.

About Caterpillar

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.