Azimuth Capital Management LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 12.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,361 shares of the industrial products company’s stock after buying an additional 1,675 shares during the period. Azimuth Capital Management LLC’s holdings in Caterpillar were worth $2,084,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAT. Jennison Associates LLC increased its stake in shares of Caterpillar by 5.4% in the second quarter. Jennison Associates LLC now owns 6,442,611 shares of the industrial products company’s stock worth $874,069,000 after acquiring an additional 327,470 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Caterpillar by 1.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,380,679 shares of the industrial products company’s stock worth $350,865,000 after acquiring an additional 34,141 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Caterpillar by 7.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,239,504 shares of the industrial products company’s stock worth $303,834,000 after acquiring an additional 145,707 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Caterpillar by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,147,234 shares of the industrial products company’s stock worth $291,325,000 after acquiring an additional 151,960 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Caterpillar by 99.6% in the first quarter. Prudential Financial Inc. now owns 1,990,874 shares of the industrial products company’s stock worth $293,415,000 after acquiring an additional 993,438 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on CAT shares. UBS Group increased their price objective on shares of Caterpillar from $178.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, June 14th. Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Tuesday, July 17th. Goldman Sachs Group lowered shares of Caterpillar from a “conviction-buy” rating to a “buy” rating in a research note on Monday, July 16th. Morgan Stanley increased their price objective on shares of Caterpillar from $185.00 to $187.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Finally, Argus cut their price objective on shares of Caterpillar from $185.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, August 13th. Twelve equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $170.94.

CAT stock opened at $139.06 on Friday. The firm has a market cap of $84.42 billion, a P/E ratio of 20.21, a PEG ratio of 0.93 and a beta of 1.38. The company has a current ratio of 1.37, a quick ratio of 0.97 and a debt-to-equity ratio of 1.59. Caterpillar Inc. has a one year low of $114.30 and a one year high of $173.24.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.73 by $0.24. The company had revenue of $14.01 billion for the quarter, compared to analyst estimates of $14.09 billion. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the business earned $1.49 earnings per share. research analysts predict that Caterpillar Inc. will post 11.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 20th. Investors of record on Friday, July 20th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.47%. The ex-dividend date was Thursday, July 19th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.78. Caterpillar’s dividend payout ratio (DPR) is currently 50.00%.

About Caterpillar

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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