Natixis Reduces Holdings in Caterpillar Inc. (NYSE:CAT)

Natixis cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 89.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,964 shares of the industrial products company’s stock after selling 24,906 shares during the quarter. Natixis’ holdings in Caterpillar were worth $1,086,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFG Advisory LLC boosted its position in Caterpillar by 2.9% in the 4th quarter. IFG Advisory LLC now owns 2,551 shares of the industrial products company’s stock valued at $754,000 after buying an additional 71 shares during the last quarter. WASHINGTON TRUST Co boosted its position in shares of Caterpillar by 22.9% in the 4th quarter. WASHINGTON TRUST Co now owns 4,274 shares of the industrial products company’s stock valued at $1,264,000 after purchasing an additional 797 shares during the period. MJP Associates Inc. ADV acquired a new position in shares of Caterpillar in the fourth quarter worth $242,000. Successful Portfolios LLC acquired a new position in Caterpillar during the fourth quarter valued at approximately $208,000. Finally, Accel Wealth Management raised its stake in Caterpillar by 4.8% during the 4th quarter. Accel Wealth Management now owns 923 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 1.7 %

Caterpillar stock traded up $5.82 during midday trading on Friday, hitting $350.12. 159,555 shares of the stock were exchanged, compared to its average volume of 2,710,526. The business’s 50-day moving average price is $336.69 and its 200-day moving average price is $335.26. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The stock has a market capitalization of $171.23 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. 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 (NYSE:CAT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. On average, research analysts expect that Caterpillar Inc. will post 21.61 EPS for the current fiscal year.

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

Caterpillar Increases Dividend

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

Insider Activity

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the transaction, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a filing with the SEC, which is available through this link. In related 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 transaction of $512,720.00. Following the transaction, the insider now directly owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lange Bob De sold 21,847 shares of the 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 transaction, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,863 shares of company stock worth $8,837,714. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on CAT shares. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and raised their target price for the stock from $293.00 to $350.00 in a research report on Friday, April 26th. TD Cowen lifted their price objective on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their target price on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $329.63.

Caterpillar Company Profile

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.