Mutual of America Capital Management LLC Decreases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Mutual of America Capital Management LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,122 shares of the industrial products company’s stock after selling 2,412 shares during the period. Mutual of America Capital Management LLC’s holdings in Caterpillar were worth $20,158,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new position in shares of Caterpillar during the fourth quarter valued at approximately $33,000. Quarry LP bought a new stake in Caterpillar in the fourth quarter valued at $35,000. Mpwm Advisory Solutions LLC purchased a new position in Caterpillar during the 4th quarter valued at $36,000. Mattson Financial Services LLC bought a new position in Caterpillar in the 4th quarter worth $39,000. Finally, Curat Global LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAT has been the topic of several research analyst reports. Baird R W upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Robert W. Baird upped their target price on Caterpillar from $395.00 to $422.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $272.00 to $357.00 in a research report on Friday, May 16th. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $444.00.

Caterpillar Stock Performance

Shares of CAT stock opened at $428.04 on Thursday. The company has a market capitalization of $201.62 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 2.72 and a beta of 1.40. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.77 and a current ratio of 1.34. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15. The company’s 50-day moving average is $389.11 and its 200 day moving average is $354.92.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. Caterpillar’s revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $5.99 EPS. Sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.4%. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar’s payout ratio is 29.43%.

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.