Graphene Investments SAS Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Graphene Investments SAS trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 16.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,300 shares of the industrial products company’s stock after selling 1,800 shares during the period. Caterpillar comprises 2.1% of Graphene Investments SAS’s investment portfolio, making the stock its 22nd largest position. Graphene Investments SAS’s holdings in Caterpillar were worth $3,408,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Caterpillar in the 4th quarter worth approximately $1,660,560,000. International Assets Investment Management LLC increased its stake in shares of Caterpillar by 28,603.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after buying an additional 1,488,813 shares during the period. Capital Wealth Planning LLC raised its holdings in Caterpillar by 27,495.2% during the 4th quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after buying an additional 1,178,168 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Caterpillar by 19.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after buying an additional 529,420 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Caterpillar by 5,293.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock valued at $142,620,000 after acquiring an additional 473,416 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.9 %

Shares of NYSE CAT traded up $2.85 during trading on Wednesday, reaching $330.61. The company had a trading volume of 1,352,181 shares, compared to its average volume of 2,706,595. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The business’s 50-day moving average is $339.03 and its 200 day moving average is $330.08. The stock has a market cap of $161.68 billion, a PE ratio of 14.93, a P/E/G ratio of 1.71 and a beta of 1.12.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The business had revenue of $15.80 billion during 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%. As a group, equities analysts forecast that Caterpillar Inc. will post 21.8 earnings per share for the current fiscal year.

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 given 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 annualized dividend and a yield of 1.71%. Caterpillar’s dividend payout ratio is 23.48%.

Caterpillar declared that its board has authorized a stock buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and boosted their target price for the company from $293.00 to $350.00 in a research note on Friday, April 26th. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. Citigroup assumed coverage on shares of Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective for the company. Finally, HSBC lifted their target price on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $329.63.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan purchased 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The stock was purchased 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 directly owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated 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 directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan purchased 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

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.