Valley National Advisers Inc. Boosts Stock Position in Caterpillar Inc. (NYSE:CAT)

Valley National Advisers Inc. grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,496 shares of the industrial products company’s stock after purchasing an additional 55 shares during the quarter. Valley National Advisers Inc.’s holdings in Caterpillar were worth $548,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Thompson Investment Management Inc. purchased a new position in Caterpillar in the first quarter valued at approximately $27,000. Partnership Wealth Management LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at $26,000. Richardson Financial Services Inc. purchased a new stake in Caterpillar in the 4th quarter worth about $27,000. Vima LLC bought a new stake in Caterpillar in the 4th quarter valued at about $30,000. Finally, Gilfoyle & Co LLC purchased a new stake in Caterpillar during the fourth quarter valued at about $30,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CAT shares. The Goldman Sachs Group lifted their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. TD Cowen boosted their target price on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. HSBC raised their price target on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Citigroup began coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective on the stock. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $329.63.

Insiders Place Their Bets

In related news, Director David Maclennan acquired 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the purchase, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the transaction, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Maclennan acquired 500 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $337.39 per share, with a total value of $168,695.00. Following the acquisition, the director now owns 5,738 shares in the company, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.9 %

CAT stock opened at $330.61 on Thursday. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01. The company has a market capitalization of $161.68 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.12. The company’s 50 day moving average price is $338.37 and its two-hundred day moving average price is $330.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35.

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

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, July 22nd. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.71%. Caterpillar’s dividend payout ratio is currently 23.48%.

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

About Caterpillar

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.