Lincoln National Corp Raises Stock Position in Caterpillar Inc. (NYSE:CAT)

Lincoln National Corp increased its stake in Caterpillar Inc. (NYSE:CATGet Rating) by 50.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,750 shares of the industrial products company’s stock after purchasing an additional 6,282 shares during the quarter. Lincoln National Corp’s holdings in Caterpillar were worth $4,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Crewe Advisors LLC boosted its holdings in Caterpillar by 322.6% in the fourth quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Nauset Wealth Management. LLC bought a new position in Caterpillar in the first quarter worth approximately $29,000. Arcadia Investment Management Corp MI bought a new position in Caterpillar in the first quarter worth approximately $33,000. Sierra Capital LLC bought a new position in Caterpillar in the fourth quarter worth approximately $38,000. Finally, IMA Wealth Inc. bought a new position in Caterpillar in the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, insider Joseph E. Creed sold 2,757 shares of Caterpillar stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $214.13, for a total value of $590,356.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the topic of several recent research reports. Citigroup decreased their price target on shares of Caterpillar from $225.00 to $190.00 in a research report on Thursday, July 7th. Wells Fargo & Company decreased their price target on shares of Caterpillar from $230.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Sanford C. Bernstein downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $195.00 price target on the stock. in a research report on Wednesday. Cowen decreased their price objective on shares of Caterpillar from $255.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, July 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $250.00 to $205.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $225.27.

Caterpillar Stock Performance

CAT opened at $185.39 on Friday. The stock has a market capitalization of $97.87 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.21 and a beta of 1.01. The company has a fifty day moving average of $191.68 and a 200 day moving average of $203.92. Caterpillar Inc. has a fifty-two week low of $167.08 and a fifty-two week high of $237.90. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 1.45.

Caterpillar (NYSE:CATGet Rating) last posted its earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.17. The company had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Caterpillar had a net margin of 12.50% and a return on equity of 37.29%. Caterpillar’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $2.60 earnings per share. As a group, sell-side analysts forecast that Caterpillar Inc. will post 12.7 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Wednesday, July 20th will be paid a $1.20 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.11. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, July 19th. Caterpillar’s dividend payout ratio (DPR) is presently 38.40%.

About Caterpillar

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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

Further Reading

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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