Mackenzie Financial Corp Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

Mackenzie Financial Corp lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 44.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 180,360 shares of the industrial products company’s stock after selling 145,782 shares during the period. Mackenzie Financial Corp’s holdings in Caterpillar were worth $53,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its position in Caterpillar by 130,632.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock valued at $2,343,859,000 after acquiring an additional 9,776,533 shares during the last quarter. Northern Trust Corp increased its stake in Caterpillar by 1.6% during the 3rd quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after purchasing an additional 111,384 shares in the last quarter. Morgan Stanley increased its stake in Caterpillar by 0.7% during the 3rd quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after purchasing an additional 47,258 shares in the last quarter. FMR LLC increased its stake in Caterpillar by 14.9% during the 3rd quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock valued at $1,648,431,000 after purchasing an additional 781,111 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Caterpillar by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,440,783 shares of the industrial products company’s stock valued at $892,724,000 after purchasing an additional 92,360 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of CAT stock opened at $359.65 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87. The firm’s 50-day moving average is $344.54 and its two-hundred day moving average is $296.35. Caterpillar Inc. has a 12 month low of $204.04 and a 12 month high of $382.01. The company has a market capitalization of $179.61 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17.

Caterpillar (NYSE:CAT) last issued its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The company had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. During the same period in the previous year, the firm earned $3.86 earnings per share. Caterpillar’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts predict that Caterpillar Inc. will post 21.33 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio is presently 25.82%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at approximately $17,774,001.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lange Bob De sold 21,194 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The disclosure for this sale can be found here. Insiders sold a total of 45,769 shares of company stock worth $14,509,306 over the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. Evercore ISI lowered shares of Caterpillar from an “outperform” rating to an “in-line” rating and increased their price objective for the stock from $321.00 to $338.00 in a research note on Tuesday, February 20th. TD Cowen increased their price objective on shares of Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Citigroup increased their price objective on shares of Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Wells Fargo & Company raised their price target on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $307.56.

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.