Liberty One Investment Management LLC Increases Position in Caterpillar Inc. $CAT

Liberty One Investment Management LLC lifted its holdings in Caterpillar Inc. (NYSE:CAT) by 19.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,356 shares of the industrial products company’s stock after buying an additional 1,859 shares during the quarter. Caterpillar makes up about 0.8% of Liberty One Investment Management LLC’s portfolio, making the stock its 28th biggest position. Liberty One Investment Management LLC’s holdings in Caterpillar were worth $8,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. Lam Group Inc. bought a new stake in shares of Caterpillar during the first quarter worth $26,000. Torren Management LLC bought a new position in shares of Caterpillar in the fourth quarter worth about $27,000. Frazier Financial Advisors LLC increased its stake in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after buying an additional 33 shares during the period. Cedar Mountain Advisors LLC lifted its holdings in Caterpillar by 82.1% during the 1st quarter. Cedar Mountain Advisors LLC now owns 51 shares of the industrial products company’s stock valued at $36,000 after buying an additional 23 shares in the last quarter. Finally, Cornerstone Financial Management LLC purchased a new stake in Caterpillar in the 4th quarter valued at about $32,000. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CAT. Wells Fargo & Company raised their target price on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. increased their price objective on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Bank of America raised their price objective on Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a report on Friday, May 1st. UBS Group reaffirmed a “neutral” rating and set a $900.00 target price on shares of Caterpillar in a research report on Tuesday, June 2nd. Finally, HSBC increased their price target on Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. Fifteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $980.57.

Insider Buying and Selling at Caterpillar

In other news, insider Denise C. Johnson sold 12,605 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the sale, the insider owned 49,825 shares in the company, valued at approximately $45,236,615.75. This represents a 20.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the sale, the chief financial officer directly owned 52,935 shares of the company’s stock, valued at $48,631,913.85. The trade was a 22.85% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 95,773 shares of company stock valued at $87,642,635. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT stock opened at $893.02 on Friday. Caterpillar Inc. has a one year low of $405.46 and a one year high of $1,073.46. The firm has a market cap of $411.32 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 1.74 and a beta of 1.57. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The firm has a 50-day simple moving average of $928.87 and a two-hundred day simple moving average of $803.52.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm had revenue of $17.41 billion for the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the previous year, the firm earned $4.25 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 24.87 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, July 20th. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.7%. Caterpillar’s payout ratio is currently 32.45%.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.