Jacobs Levy Equity Management Inc. Trims Holdings in Caterpillar Inc. (NYSE:CAT)

Jacobs Levy Equity Management Inc. reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 76.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,388 shares of the industrial products company’s stock after selling 61,637 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Caterpillar were worth $7,104,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CAT. Norges Bank acquired a new stake in Caterpillar in the fourth quarter valued at approximately $1,660,560,000. International Assets Investment Management LLC grew its position in shares of Caterpillar by 28,603.5% during 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 in the last quarter. Capital Wealth Planning LLC lifted its stake in Caterpillar by 27,495.2% during the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock worth $349,616,000 after purchasing an additional 1,178,168 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Caterpillar by 19.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock worth $947,875,000 after purchasing an additional 529,420 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in Caterpillar by 5,293.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock worth $142,620,000 after purchasing an additional 473,416 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now directly owns 71,115 shares in the company, valued at approximately $25,380,943.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now directly owns 71,115 shares in the company, valued at approximately $25,380,943.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David Maclennan purchased 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the acquisition, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. Insiders have sold a total of 24,863 shares of company stock valued at $8,837,714 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Down 0.8 %

NYSE:CAT traded down $2.87 on Tuesday, hitting $341.66. 1,969,119 shares of the company’s stock traded hands, compared to its average volume of 2,713,790. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The firm has a 50-day moving average price of $336.21 and a 200-day moving average price of $336.64. The company has a market cap of $167.09 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.82 and a beta of 1.12.

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

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is 25.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. TD Cowen raised their target price on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Citigroup assumed coverage on Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price on the stock. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the company from $293.00 to $350.00 in a research note on Friday, April 26th. Finally, Raymond James assumed coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $329.63.

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.