1,913 Shares in Caterpillar Inc. $CAT Bought by Allen Investment Management LLC

Allen Investment Management LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,913 shares of the industrial products company’s stock, valued at approximately $1,096,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund increased its position in shares of Caterpillar by 7.3% during the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock valued at $8,237,000 after acquiring an additional 1,181 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Caterpillar during the third quarter valued at about $8,893,000. State of New Jersey Common Pension Fund D increased its position in shares of Caterpillar by 2.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company’s stock valued at $79,053,000 after acquiring an additional 4,010 shares during the last quarter. Juno Financial Group LLC acquired a new stake in shares of Caterpillar during the fourth quarter valued at about $877,000. Finally, ARK Investment Management LLC increased its position in shares of Caterpillar by 11.7% during the third quarter. ARK Investment Management LLC now owns 31,144 shares of the industrial products company’s stock valued at $14,860,000 after acquiring an additional 3,268 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Down 1.1%

CAT stock opened at $865.95 on Tuesday. The company has a fifty day moving average price of $814.65 and a 200 day moving average price of $705.34. Caterpillar Inc. has a 12 month low of $339.50 and a 12 month high of $931.35. The company has a market cap of $398.85 billion, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.59. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, beating the consensus estimate 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 $17.42 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the prior year, the firm earned $4.25 EPS. Caterpillar’s revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 24.67 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were given a $1.51 dividend. The ex-dividend date was Monday, April 20th. This represents a $6.04 annualized dividend and a yield of 0.7%. Caterpillar’s dividend payout ratio is 30.06%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAT shares. Wolfe Research lifted their price objective on shares of Caterpillar from $670.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. CICC Research started coverage on shares of Caterpillar in a report on Friday, February 6th. They issued an “outperform” rating for the company. Barclays lifted their price objective on shares of Caterpillar from $700.00 to $800.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Caterpillar from $860.00 to $1,125.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $923.14.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 16,283 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $916.80, for a total value of $14,928,254.40. Following the completion of the sale, the insider owned 46,041 shares in the company, valued at $42,210,388.80. This represents a 26.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the transaction, the chief financial officer directly owned 52,935 shares in the company, valued at $48,631,913.85. This represents a 22.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 98,273 shares of company stock worth $89,439,960 over the last 90 days. Company insiders own 0.33% of the company’s stock.

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.