Verition Fund Management LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 20,694 shares of the industrial products company’s stock, valued at approximately $3,050,000.

Several other large investors have also modified their holdings of the business. BlackRock Inc. grew its stake in shares of Caterpillar by 6.5% in the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock worth $5,919,590,000 after buying an additional 2,297,750 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Caterpillar by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 6,212,261 shares of the industrial products company’s stock worth $976,845,000 after buying an additional 323,920 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Caterpillar by 17.7% in the 4th quarter. TIAA CREF Investment Management LLC now owns 4,035,424 shares of the industrial products company’s stock worth $635,902,000 after buying an additional 607,875 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Caterpillar by 1.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 2,380,679 shares of the industrial products company’s stock worth $350,865,000 after buying an additional 34,141 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Caterpillar by 2.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,093,797 shares of the industrial products company’s stock worth $308,584,000 after buying an additional 59,405 shares in the last quarter. 66.86% of the stock is owned by institutional investors and hedge funds.

In related news, insider Thomas A. Pellette sold 54,481 shares of Caterpillar stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $150.17, for a total transaction of $8,181,411.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph E. Creed sold 4,532 shares of Caterpillar stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $155.67, for a total transaction of $705,496.44. Following the sale, the chief financial officer now owns 2,554 shares of the company’s stock, valued at approximately $397,581.18. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

A number of brokerages have commented on CAT. Vetr raised shares of Caterpillar from a “buy” rating to a “strong-buy” rating and set a $169.76 price objective for the company in a research note on Monday, March 26th. Buckingham Research began coverage on shares of Caterpillar in a research note on Wednesday, April 11th. They issued a “buy” rating and a $170.00 price objective for the company. Zacks Investment Research raised shares of Caterpillar from a “sell” rating to a “hold” rating in a research note on Monday, April 9th. Stifel Nicolaus reissued a “hold” rating and issued a $174.00 price objective (down from $176.00) on shares of Caterpillar in a research note on Monday, May 14th. Finally, Cleveland Research reissued a “hold” rating on shares of Caterpillar in a research note on Thursday, April 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Caterpillar presently has an average rating of “Buy” and an average target price of $172.86.

Shares of CAT opened at $156.23 on Thursday. Caterpillar Inc. has a 1-year low of $102.30 and a 1-year high of $173.24. The stock has a market cap of $93.46 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.10 and a beta of 1.32. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.36 and a quick ratio of 0.96.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.71. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The company had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.99 billion. During the same quarter last year, the business posted $1.28 EPS. The firm’s revenue for the quarter was up 30.9% on a year-over-year basis. research analysts forecast that Caterpillar Inc. will post 10.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Friday, July 20th will be issued a dividend of $0.86 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $0.78. This represents a $3.44 dividend on an annualized basis and a yield of 2.20%. Caterpillar’s dividend payout ratio (DPR) is presently 45.35%.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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