Acadian Asset Management LLC Increases Position in Caterpillar Inc. (NYSE:CAT)

Acadian Asset Management LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 196.5% during the 1st quarter, Holdings Channel.com reports. The firm 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 Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Marco Investment Management LLC lifted its stake in Caterpillar by 1.5% in the first quarter. Marco Investment Management LLC now owns 59,175 shares of the industrial products company’s stock valued at $13,721,000 after purchasing an additional 900 shares during the last quarter. Aviva PLC lifted its stake in Caterpillar by 100.3% in the fourth quarter. Aviva PLC now owns 350,356 shares of the industrial products company’s stock valued at $63,772,000 after purchasing an additional 175,477 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Caterpillar by 0.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,094,490 shares of the industrial products company’s stock valued at $199,219,000 after purchasing an additional 9,192 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in Caterpillar by 2.2% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 93,725 shares of the industrial products company’s stock valued at $21,732,000 after purchasing an additional 2,038 shares during the last quarter. Finally, MV Capital Management Inc. lifted its position in shares of Caterpillar by 29.9% during the fourth quarter. MV Capital Management Inc. now owns 7,746 shares of the industrial products company’s stock worth $1,410,000 after acquiring an additional 1,783 shares in the last quarter. Institutional investors and hedge funds own 68.22% of the company’s stock.

CAT opened at $225.73 on Friday. The company has a fifty day moving average price of $235.44. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 1.59. Caterpillar Inc. has a 52 week low of $118.01 and a 52 week high of $246.69. The company has a market capitalization of $123.65 billion, a PE ratio of 36.12, a PEG ratio of 2.07 and a beta of 0.93.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, April 29th. The industrial products company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.94. Caterpillar had a net margin of 7.99% and a return on equity of 26.63%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 9.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 20th. Shareholders of record on Tuesday, July 20th will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.97%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, July 19th. Caterpillar’s dividend payout ratio is presently 62.80%.

Several equities research analysts have issued reports on CAT shares. Daiwa Capital Markets downgraded Caterpillar from an “outperform” rating to a “neutral” rating in a research report on Friday, March 5th. Morgan Stanley increased their target price on Caterpillar from $168.00 to $181.00 and gave the stock an “underweight” rating in a research report on Friday, April 30th. The Goldman Sachs Group restated a “buy” rating and set a $264.00 target price on shares of Caterpillar in a research report on Thursday, May 27th. 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 report on Friday, April 30th. Finally, Wolfe Research started coverage on shares of Caterpillar in a report on Monday, April 19th. They issued an “outperform” rating and a $265.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. Caterpillar currently has a consensus rating of “Hold” and an average target price of $219.29.

In other news, Director David Maclennan bought 420 shares of the company’s stock in a transaction dated Wednesday, May 5th. The stock was bought at an average cost of $237.86 per share, for a total transaction of $99,901.20. Following the completion of the acquisition, the director now owns 890 shares in the company, valued at approximately $211,695.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph E. Creed sold 7,699 shares of the stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $245.12, for a total transaction of $1,887,178.88. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Caterpillar Company Profile

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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