Amundi Has $761.67 Million Stock Holdings in Caterpillar Inc. $CAT

Amundi boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 22.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,911,674 shares of the industrial products company’s stock after purchasing an additional 356,804 shares during the period. Amundi owned 0.41% of Caterpillar worth $761,668,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CAT. Kilter Group LLC acquired a new position in Caterpillar in the second quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Caterpillar during the 2nd quarter worth $28,000. Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar during the 2nd quarter valued at $32,000. RiverPark Advisors LLC acquired a new stake in shares of Caterpillar in the 2nd quarter valued at $32,000. Finally, Harbor Asset Planning Inc. bought a new stake in Caterpillar in the second quarter worth $34,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $571.44, for a total transaction of $5,714,400.00. Following the sale, the chief financial officer directly owned 55,460 shares of the company’s stock, valued at approximately $31,692,062.40. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the transaction, the chairman owned 448,173 shares of the company’s stock, valued at $226,457,335.17. This trade represents a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 79,061 shares of company stock valued at $41,949,366. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on CAT shares. Oppenheimer upped their price target on Caterpillar from $513.00 to $645.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Royal Bank Of Canada initiated coverage on shares of Caterpillar in a research note on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Citigroup boosted their target price on shares of Caterpillar from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, UBS Group raised their price target on Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $610.32.

Caterpillar Trading Up 1.3%

CAT stock opened at $598.89 on Friday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $602.72. The company has a current ratio of 1.38, a quick ratio of 0.86 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $539.70 and its 200-day moving average is $450.00. The firm has a market cap of $280.27 billion, a P/E ratio of 30.74, a P/E/G ratio of 2.79 and a beta of 1.57.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same quarter in the previous year, the firm earned $5.17 EPS. Caterpillar’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, October 20th were given a dividend of $1.51 per share. The ex-dividend date was Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

Caterpillar Company Profile

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.