Caterpillar Inc. (NYSE:CAT) Stake Raised by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in Caterpillar Inc. (NYSE:CAT) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 876 shares of the industrial products company’s stock after purchasing an additional 128 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Caterpillar were worth $321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAT. Axxcess Wealth Management LLC grew its position in Caterpillar by 127.7% during the 3rd quarter. Axxcess Wealth Management LLC now owns 17,785 shares of the industrial products company’s stock worth $4,856,000 after purchasing an additional 9,974 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Caterpillar by 156.2% in the 3rd quarter. Alps Advisors Inc. now owns 27,384 shares of the industrial products company’s stock valued at $7,476,000 after purchasing an additional 16,694 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Caterpillar by 167.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 310,641 shares of the industrial products company’s stock worth $84,805,000 after purchasing an additional 194,700 shares in the last quarter. Evergreen Capital Management LLC grew its position in Caterpillar by 23.3% during the third quarter. Evergreen Capital Management LLC now owns 3,149 shares of the industrial products company’s stock valued at $860,000 after purchasing an additional 595 shares in the last quarter. Finally, EHP Funds Inc. increased its stake in Caterpillar by 71.2% in the 3rd quarter. EHP Funds Inc. now owns 3,800 shares of the industrial products company’s stock valued at $1,037,000 after buying an additional 1,580 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on CAT shares. Raymond James began coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the stock from $293.00 to $350.00 in a research report on Friday, April 26th. JPMorgan Chase & Co. lifted their price target on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. The Goldman Sachs Group increased their price objective on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Truist Financial started coverage on shares of Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $329.63.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the transaction, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares in the company, valued at approximately $6,807,820. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

NYSE:CAT opened at $327.74 on Wednesday. The firm has a 50 day moving average of $339.03 and a 200-day moving average of $330.08. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The stock has a market capitalization of $160.28 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.8 EPS for the current fiscal year.

Caterpillar Increases Dividend

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

Caterpillar announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Caterpillar Profile

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.