Cwm LLC Purchases 14,937 Shares of Caterpillar Inc. (NYSE:CAT)

Cwm LLC raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 27.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,599 shares of the industrial products company’s stock after acquiring an additional 14,937 shares during the period. Cwm LLC’s holdings in Caterpillar were worth $23,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Partnership Wealth Management LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at $26,000. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the fourth quarter valued at $27,000. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar during the first quarter valued at $27,000. Fairman Group LLC purchased a new stake in Caterpillar in the first quarter worth about $29,000. Finally, Vima LLC purchased a new stake in Caterpillar in the fourth quarter worth about $30,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CAT shares. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. TD Cowen increased their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Barclays increased their price target on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, HSBC increased their price target on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $337.38.

Caterpillar Stock Down 0.2 %

Shares of CAT traded down $0.64 during mid-day trading on Wednesday, hitting $325.80. 3,008,424 shares of the company traded hands, compared to its average volume of 2,760,452. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The business has a 50 day moving average of $333.67 and a 200 day moving average of $338.54. 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 $159.33 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the prior year, the company earned $5.55 EPS. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Caterpillar Inc. will post 21.57 EPS for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio is currently 25.46%.

Caterpillar declared that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the firm’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 directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 1,508 shares of the firm’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 completion of the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,863 shares of company stock worth $8,837,714. Corporate insiders own 0.33% of the company’s stock.

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.