Acadian Asset Management LLC Cuts Stake in Caterpillar Inc. (NYSE:CAT)

Acadian Asset Management LLC lowered its position in Caterpillar Inc. (NYSE:CATGet Rating) by 43.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,196 shares of the industrial products company’s stock after selling 18,792 shares during the quarter. Acadian Asset Management LLC’s holdings in Caterpillar were worth $5,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CAT. Crewe Advisors LLC lifted its position in Caterpillar by 322.6% in the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Nauset Wealth Management. LLC bought a new stake in Caterpillar in the first quarter valued at approximately $29,000. Arcadia Investment Management Corp MI bought a new stake in Caterpillar in the first quarter valued at approximately $33,000. Sierra Capital LLC bought a new stake in Caterpillar in the fourth quarter valued at approximately $38,000. Finally, Core Alternative Capital lifted its position in Caterpillar by 786.4% in the first quarter. Core Alternative Capital now owns 195 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 68.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CAT shares. Cowen decreased their target price on Caterpillar from $255.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, July 7th. Tigress Financial increased their target price on shares of Caterpillar from $278.00 to $282.00 and gave the company a “buy” rating in a research note on Friday, May 20th. Wells Fargo & Company reduced their target price on shares of Caterpillar from $230.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 3rd. Sanford C. Bernstein downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $195.00 price target on the stock. in a research note on Wednesday, August 3rd. Finally, StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average target price of $223.38.

Caterpillar Price Performance

CAT stock opened at $180.83 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.90 and a debt-to-equity ratio of 1.66. The business has a 50 day simple moving average of $185.21 and a 200-day simple moving average of $202.14. Caterpillar Inc. has a twelve month low of $167.08 and a twelve month high of $237.90. The company has a market capitalization of $95.46 billion, a P/E ratio of 14.47, a PEG ratio of 1.26 and a beta of 1.01.

Caterpillar (NYSE:CATGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.18. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. The business had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter last year, the business posted $2.60 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts anticipate that Caterpillar Inc. will post 12.65 EPS for the current year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Wednesday, July 20th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Tuesday, July 19th. This is a boost from Caterpillar’s previous quarterly dividend of $1.11. Caterpillar’s dividend payout ratio (DPR) is currently 38.40%.

About Caterpillar

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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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