Caterpillar Inc. $CAT Position Reduced by BLI Banque de Luxembourg Investments

BLI Banque de Luxembourg Investments trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% during the fourth quarter, HoldingsChannel reports. The fund owned 50,895 shares of the industrial products company’s stock after selling 1,465 shares during the quarter. BLI Banque de Luxembourg Investments’ holdings in Caterpillar were worth $29,393,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund boosted its stake in Caterpillar by 7.3% during the 3rd 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 bought a new position in Caterpillar during the 3rd quarter valued at $8,893,000. State of New Jersey Common Pension Fund D boosted its stake in Caterpillar by 2.5% during the 3rd 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 bought a new position in Caterpillar during the 4th quarter valued at $877,000. Finally, ARK Investment Management LLC boosted its stake in Caterpillar by 11.7% during the 3rd 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on CAT shares. Morgan Stanley set a $915.00 price objective on shares of Caterpillar and gave the company an “equal weight” rating in a research note on Friday, May 1st. Jefferies Financial Group increased their target price on shares of Caterpillar from $900.00 to $1,045.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Argus increased their target price on shares of Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Oppenheimer set a $980.00 target price on shares of Caterpillar and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Daiwa Securities Group increased their target price on shares of Caterpillar from $790.00 to $900.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus target price of $933.27.

Caterpillar Stock Up 1.2%

CAT stock opened at $915.27 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a fifty-two week low of $353.92 and a fifty-two week high of $946.83. The firm’s 50-day simple moving average is $836.25 and its 200 day simple moving average is $718.16. The stock has a market cap of $421.57 billion, a PE ratio of 45.56, a price-to-earnings-growth ratio of 1.78 and a beta of 1.59.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share 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 business had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $16.53 billion. During the same quarter last year, the company earned $4.25 EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, sell-side analysts predict that Caterpillar Inc. will post 24.68 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, April 20th. Caterpillar’s dividend payout ratio (DPR) is 30.06%.

Insiders Place Their Bets

In related news, CFO Andrew R. J. Bonfield sold 15,674 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total value of $14,399,860.54. Following the sale, the chief financial officer owned 52,935 shares of the company’s stock, valued at $48,631,913.85. This trade represents a 22.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Schaupp sold 360 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total transaction of $326,160.00. Following the transaction, the chief accounting officer directly owned 530 shares in the company, valued at approximately $480,180. The trade was a 40.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is owned by company insiders.

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.