Epoch Investment Partners Inc. Lowers Position in Caterpillar Inc. (NYSE:CAT)

Epoch Investment Partners Inc. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,686 shares of the industrial products company’s stock after selling 113 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Caterpillar were worth $984,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at about $26,000. Richardson Financial Services Inc. bought a new stake in shares of Caterpillar in the 4th quarter worth approximately $27,000. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar during the first quarter valued at approximately $27,000. Fairman Group LLC bought a new stake in Caterpillar in the first quarter worth $29,000. Finally, Gilfoyle & Co LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $30,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Up 1.8 %

CAT traded up $6.18 on Friday, reaching $350.48. The company’s stock had a trading volume of 1,894,930 shares, compared to its average volume of 2,951,150. The stock has a 50 day moving average of $336.58 and a two-hundred day moving average of $335.97. 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 company has a market capitalization of $171.40 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.82 and a beta of 1.12. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, analysts forecast that Caterpillar Inc. will post 21.61 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.61%. Caterpillar’s payout ratio is currently 25.46%.

Caterpillar announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Citigroup assumed coverage on Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target for the company. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and boosted their price objective for the company from $293.00 to $350.00 in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average price target of $329.63.

Insider Activity

In other news, insider Cheryl H. Johnson sold 1,508 shares of the business’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 value of $512,720.00. Following the completion of the sale, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 value of $7,797,194.30. Following the completion of the sale, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the business’s 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 sale, the insider now directly owns 20,023 shares in the company, valued at $6,807,820. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,863 shares of company stock worth $8,837,714. 0.33% of the stock is currently owned by insiders.

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.