Acadian Asset Management LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 196.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,464 shares of the industrial products company’s stock after purchasing an additional 34,104 shares during the period. Acadian Asset Management LLC’s holdings in Caterpillar were worth $11,933,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Marcum Wealth LLC boosted its position in Caterpillar by 84.7% during the first quarter. Marcum Wealth LLC now owns 2,560 shares of the industrial products company’s stock valued at $594,000 after purchasing an additional 1,174 shares during the last quarter. Bollard Group LLC lifted its position in shares of Caterpillar by 0.3% in the first quarter. Bollard Group LLC now owns 185,455 shares of the industrial products company’s stock valued at $43,001,000 after buying an additional 639 shares during the last quarter. Cedar Brook Financial Partners LLC acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $202,000. First Horizon Corp lifted its position in shares of Caterpillar by 14.1% in the first quarter. First Horizon Corp now owns 36,462 shares of the industrial products company’s stock valued at $8,454,000 after buying an additional 4,508 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Caterpillar by 25.7% in the first quarter. Teacher Retirement System of Texas now owns 124,896 shares of the industrial products company’s stock valued at $28,960,000 after buying an additional 25,558 shares during the last quarter. 68.22% of the stock is owned by hedge funds and other institutional investors.
Shares of CAT opened at $225.73 on Friday. Caterpillar Inc. has a 52-week low of $118.01 and a 52-week high of $246.69. The firm has a fifty day simple moving average of $235.44. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.15 and a current ratio of 1.60. The company has a market cap of $123.65 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 2.07 and a beta of 0.93.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 20th. Stockholders of record on Tuesday, July 20th will be paid a $1.11 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, July 19th. This represents a $4.44 annualized dividend and a dividend yield of 1.97%. Caterpillar’s dividend payout ratio (DPR) is presently 62.80%.
In related news, insider Joseph E. Creed sold 7,699 shares of the firm’s stock in a transaction on Friday, June 4th. The stock was sold at an average price of $245.12, for a total transaction of $1,887,178.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Maclennan acquired 420 shares of the business’s stock in a transaction that occurred on Wednesday, May 5th. The shares were purchased at an average cost of $237.86 per share, for a total transaction of $99,901.20. Following the acquisition, the director now owns 890 shares in the company, valued at $211,695.40. The disclosure for this purchase can be found here. Company insiders own 0.18% of the company’s stock.
A number of analysts have recently issued reports on CAT shares. Evercore ISI raised their price objective on Caterpillar from $240.00 to $303.00 in a research report on Wednesday, May 12th. Daiwa Capital Markets cut Caterpillar from an “outperform” rating to a “neutral” rating in a research report on Friday, March 5th. Wolfe Research began coverage on Caterpillar in a research note on Monday, April 19th. They set an “outperform” rating and a $265.00 target price on the stock. Citigroup increased their target price on Caterpillar from $205.00 to $245.00 in a research note on Tuesday, March 16th. Finally, BMO Capital Markets increased their target price on Caterpillar from $190.00 to $230.00 and gave the stock a “market perform” rating in a research note on Friday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $219.29.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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