Caterpillar Inc. $CAT Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 19.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 209,230 shares of the industrial products company’s stock after purchasing an additional 34,517 shares during the period. Sei Investments Co.’s holdings in Caterpillar were worth $148,240,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CAT. Axxcess Wealth Management LLC increased its holdings in shares of Caterpillar by 2.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock valued at $12,844,000 after purchasing an additional 604 shares in the last quarter. Juno Financial Group LLC acquired a new position in Caterpillar during the 4th quarter worth $877,000. DSG Capital Advisors LLC bought a new position in Caterpillar in the 1st quarter valued at $1,226,000. Cornerstone Planning LLC bought a new position in Caterpillar in the 4th quarter valued at $4,517,000. Finally, Ticino Wealth acquired a new stake in shares of Caterpillar in the 4th quarter valued at $2,488,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other news, CAO William E. Schaupp sold 360 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total value of $326,160.00. Following the completion of the transaction, the chief accounting officer owned 530 shares of the company’s stock, valued at $480,180. The trade was a 40.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the sale, the insider owned 49,825 shares of the company’s stock, valued at approximately $45,236,615.75. This represents a 20.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 95,773 shares of company stock valued at $87,642,635. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 0.4%

NYSE:CAT opened at $893.02 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 1-year low of $405.46 and a 1-year high of $1,073.46. The firm has a market capitalization of $411.32 billion, a price-to-earnings ratio of 44.45, a PEG ratio of 1.74 and a beta of 1.57. The business’s 50-day moving average price is $928.87 and its two-hundred day moving average price is $803.52.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.65 by $0.89. The company had revenue of $17.41 billion during the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.25 EPS. On average, equities analysts expect that Caterpillar Inc. will post 24.87 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be issued a dividend of $1.63 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio is presently 32.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CAT. DA Davidson upped their price target on Caterpillar from $650.00 to $845.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Bank of America lifted their price objective on Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Wolfe Research upped their target price on shares of Caterpillar from $670.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Citigroup raised their target price on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a research report on Friday, May 8th. Fifteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $980.57.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.