International Assets Investment Management LLC Boosts Stake in Caterpillar Inc. (NYSE:CAT)

International Assets Investment Management LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,391 shares of the industrial products company’s stock after buying an additional 211 shares during the quarter. International Assets Investment Management LLC’s holdings in Caterpillar were worth $1,796,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Partnership Wealth Management LLC acquired a new stake in Caterpillar during the 4th quarter valued at approximately $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar in the fourth quarter worth $27,000. Thompson Investment Management Inc. acquired a new stake in shares of Caterpillar in the first quarter worth $27,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter worth $28,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Caterpillar in the second quarter worth $28,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the sale, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $356.07 on Friday. 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 cap of $174.14 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.72 and a beta of 1.12. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $382.01. The firm’s fifty day simple moving average is $338.84 and its two-hundred day simple moving average is $342.55.

Caterpillar (NYSE:CAT) last posted 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. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $5.55 earnings per share. Equities analysts anticipate that Caterpillar Inc. will post 21.57 earnings per share for the current fiscal year.

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

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were paid a $1.41 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

Analysts Set New Price Targets

CAT has been the topic of a number of research reports. StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Evercore ISI cut their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Barclays increased their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Bank of America lowered their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, UBS Group increased their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $336.31.

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.