TLP Group LLC Grows Position in Caterpillar Inc. (CAT)

TLP Group LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 288.2% during the first quarter, Holdings Channel reports. The institutional investor owned 4,338 shares of the industrial products company’s stock after buying an additional 6,643 shares during the quarter. Caterpillar accounts for about 0.4% of TLP Group LLC’s holdings, making the stock its 15th biggest position. TLP Group LLC’s holdings in Caterpillar were worth $639,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group grew its stake in Caterpillar by 7.6% during the 4th quarter. Schroder Investment Management Group now owns 770,480 shares of the industrial products company’s stock worth $121,411,000 after buying an additional 54,661 shares during the last quarter. KHP Capital LLC purchased a new position in Caterpillar during the 4th quarter worth approximately $867,000. MainStreet Investment Advisors LLC purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $212,000. Valeo Financial Advisors LLC grew its stake in shares of Caterpillar by 20.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 18,935 shares of the industrial products company’s stock valued at $2,984,000 after purchasing an additional 3,251 shares during the last quarter. Finally, Harfst & Associates Inc. purchased a new position in shares of Caterpillar in the 4th quarter valued at approximately $228,000. Hedge funds and other institutional investors own 66.86% of the company’s stock.

Several brokerages have weighed in on CAT. Vetr upgraded Caterpillar from a “buy” rating to a “strong-buy” rating and set a $169.76 target price on the stock in a research note on Monday, March 26th. Buckingham Research began coverage on Caterpillar in a research note on Wednesday, April 11th. They issued a “buy” rating and a $170.00 target price on the stock. Zacks Investment Research upgraded Caterpillar from a “sell” rating to a “hold” rating in a research note on Monday, April 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $174.00 target price (down from $176.00) on shares of Caterpillar in a research note on Monday, May 14th. Finally, Cleveland Research reiterated a “hold” rating on shares of Caterpillar in a research note on Thursday, April 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $172.86.

In related news, insider Thomas A. Pellette sold 54,481 shares of Caterpillar stock in a transaction on Monday, May 7th. The stock was sold at an average price of $150.17, for a total transaction of $8,181,411.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph E. Creed sold 4,532 shares of Caterpillar stock in a transaction on Friday, May 11th. The stock was sold at an average price of $155.67, for a total value of $705,496.44. Following the transaction, the chief financial officer now directly owns 2,554 shares of the company’s stock, valued at $397,581.18. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

Caterpillar traded up $1.57, hitting $156.28, during midday trading on Thursday, Marketbeat reports. 27,135 shares of the stock were exchanged, compared to its average volume of 5,527,347. The stock has a market cap of $93.46 billion, a PE ratio of 22.71, a P/E/G ratio of 1.10 and a beta of 1.32. Caterpillar Inc. has a fifty-two week low of $102.30 and a fifty-two week high of $173.24. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.96 and a current ratio of 1.36.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.71. The firm had revenue of $12.86 billion during the quarter, compared to analysts’ expectations of $11.99 billion. Caterpillar had a return on equity of 34.38% and a net margin of 4.59%. Caterpillar’s revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share. equities research analysts predict that Caterpillar Inc. will post 10.72 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Friday, July 20th will be issued a dividend of $0.86 per share. This is a boost from Caterpillar’s previous quarterly dividend of $0.78. This represents a $3.44 annualized dividend and a yield of 2.20%. Caterpillar’s payout ratio is currently 45.35%.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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