Amova Asset Management Americas Inc. Raises Position in Caterpillar Inc. $CAT

Amova Asset Management Americas Inc. raised its position in Caterpillar Inc. (NYSE:CAT) by 11.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,416 shares of the industrial products company’s stock after purchasing an additional 1,110 shares during the period. Amova Asset Management Americas Inc.’s holdings in Caterpillar were worth $7,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Cornerstone Advisory LLC lifted its position in Caterpillar by 0.7% during the first quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock worth $1,288,000 after buying an additional 12 shares in the last quarter. Advisory Resource Group raised its holdings in shares of Caterpillar by 0.8% during the 4th quarter. Advisory Resource Group now owns 1,632 shares of the industrial products company’s stock worth $935,000 after acquiring an additional 13 shares during the period. Sunbeam Capital Management LLC boosted its position in shares of Caterpillar by 1.1% during the 1st quarter. Sunbeam Capital Management LLC now owns 1,164 shares of the industrial products company’s stock valued at $825,000 after acquiring an additional 13 shares during the last quarter. Brandywine Oak Private Wealth LLC grew its holdings in shares of Caterpillar by 2.6% in the first quarter. Brandywine Oak Private Wealth LLC now owns 506 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 13 shares during the period. Finally, Sylvest Advisors LLC grew its holdings in shares of Caterpillar by 3.6% in the first quarter. Sylvest Advisors LLC now owns 377 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $864.72 on Tuesday. Caterpillar Inc. has a 52 week low of $405.46 and a 52 week high of $1,073.46. The company has a fifty day simple moving average of $930.07 and a two-hundred day simple moving average of $796.99. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market cap of $398.28 billion, a price-to-earnings ratio of 43.04, a price-to-earnings-growth ratio of 1.72 and a beta of 1.57.

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

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be paid a $1.63 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, July 20th. Caterpillar’s payout ratio is presently 30.06%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CAT shares. Evercore reaffirmed an “outperform” rating and set a $1,103.00 price target on shares of Caterpillar in a research report on Monday, May 11th. Wells Fargo & Company increased their price objective on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group lifted their target price on Caterpillar from $900.00 to $1,045.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Robert W. Baird upped their price target on Caterpillar from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. Finally, Barclays increased their price target on Caterpillar from $700.00 to $800.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Fifteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $980.57.

Insider Activity at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the sale, the insider directly owned 46,041 shares of the company’s stock, valued at $42,210,388.80. The trade was a 26.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Denise C. Johnson sold 12,605 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the transaction, the insider owned 49,825 shares in the company, valued at $45,236,615.75. This represents a 20.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 95,773 shares of company stock worth $87,642,635 over the last ninety days. 0.33% of the stock is currently owned by insiders.

About Caterpillar

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.