Bollard Group LLC Has $162.27 Million Stake in Caterpillar Inc. $CAT

Bollard Group LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 14.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 229,052 shares of the industrial products company’s stock after acquiring an additional 28,562 shares during the quarter. Caterpillar accounts for 4.8% of Bollard Group LLC’s portfolio, making the stock its 3rd biggest holding. Bollard Group LLC’s holdings in Caterpillar were worth $162,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Diamant Asset Management Inc. increased its stake in Caterpillar by 68,427.2% during the 1st quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock valued at $2,224,992,000 after purchasing an additional 3,136,020 shares in the last quarter. Capital International Investors bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $1,225,317,000. Northwestern Mutual Wealth Management Co. raised its holdings in Caterpillar by 573.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock worth $861,947,000 after acquiring an additional 1,281,087 shares during the last quarter. Bank of America Corp DE lifted its position in Caterpillar by 16.0% in the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock valued at $3,860,457,000 after acquiring an additional 928,974 shares in the last quarter. Finally, Cynosure Group LLC boosted its stake in Caterpillar by 8,359.6% during the 4th quarter. Cynosure Group LLC now owns 513,754 shares of the industrial products company’s stock valued at $294,314,000 after purchasing an additional 507,681 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAT. Truist Financial boosted their price target on Caterpillar from $1,043.00 to $1,218.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Morgan Stanley set a $915.00 price objective on Caterpillar and gave the company an “equal weight” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a research report on Friday, May 8th. Rothschild & Co Redburn upped their target price on shares of Caterpillar from $700.00 to $950.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Fifteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average target price of $980.57.

Insider Activity at Caterpillar

In other news, insider Lange Bob De sold 24,222 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the sale, the insider owned 86,029 shares in the company, valued at $79,397,884.68. This trade represents a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 16,283 shares of the company’s stock in a transaction on 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 transaction, the insider owned 46,041 shares of the company’s stock, valued at approximately $42,210,388.80. This represents a 26.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 95,773 shares of company stock worth $87,642,635 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $889.23 on Friday. The firm’s 50 day simple moving average is $928.88 and its two-hundred day simple moving average is $804.12. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. The company has a market capitalization of $409.57 billion, a P/E ratio of 44.26, a P/E/G ratio of 1.75 and a beta of 1.57. Caterpillar Inc. has a 1-year low of $405.46 and a 1-year high of $1,073.46.

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

Caterpillar Increases Dividend

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

Caterpillar 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.