1,775 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC acquired a new stake in shares of Caterpillar Inc. (NYSE:CATFree Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,775 shares of the industrial products company’s stock, valued at approximately $650,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Caterpillar by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after acquiring an additional 129,216 shares during the period. Capital World Investors raised its holdings in shares of Caterpillar by 0.3% in the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after buying an additional 96,479 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Caterpillar by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after buying an additional 179,908 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Caterpillar by 1.6% in the third quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after buying an additional 111,384 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after buying an additional 47,258 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Down 0.4 %

Shares of NYSE:CAT traded down $1.29 during trading on Friday, hitting $327.84. 8,265,206 shares of the company’s stock traded hands, compared to its average volume of 3,159,043. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The company has a market cap of $160.33 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. The company has a 50-day moving average price of $343.31 and a 200-day moving average price of $326.60.

Caterpillar (NYSE:CATGet Free Report) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, research analysts forecast that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be paid a $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 annualized dividend and a yield of 1.72%. Caterpillar’s payout ratio is presently 23.48%.

Caterpillar declared that its board has authorized a share repurchase program on Wednesday, June 12th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $293.00 to $350.00 in a research report on Friday, April 26th. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. HSBC lifted their price objective on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Finally, TD Cowen boosted their target price on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and a consensus price target of $327.13.

Check Out Our Latest Stock Report on CAT

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Maclennan acquired 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Caterpillar Profile

(Free Report)

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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