Amova Asset Management Americas Inc. Raises Stock Position in Caterpillar Inc. $CAT

Amova Asset Management Americas Inc. grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,416 shares of the industrial products company’s stock after buying an additional 1,110 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Caterpillar were worth $7,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAT. Lam Group Inc. purchased a new position in shares of Caterpillar during the first quarter worth approximately $26,000. Torren Management LLC bought a new position in shares of Caterpillar during the 4th quarter worth $27,000. Frazier Financial Advisors LLC increased its stake in shares of Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after buying an additional 33 shares during the period. IFS Advisors LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at about $31,000. Finally, Rialto Wealth Management LLC raised its holdings in shares of Caterpillar by 47.4% in the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 1.8%

Shares of NYSE:CAT opened at $864.72 on Tuesday. The business’s 50-day moving average is $930.07 and its 200 day moving average is $796.99. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. 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 $398.28 billion, a P/E ratio of 43.04, a P/E/G ratio of 1.72 and a beta of 1.57.

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

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, July 20th. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio (DPR) is 30.06%.

Analyst Upgrades and Downgrades

CAT has been the topic of several recent research reports. DA Davidson increased their target price on shares of Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Citigroup upped their price target on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Jefferies Financial Group increased their price objective on shares of Caterpillar from $900.00 to $1,045.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Zacks Research downgraded shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Sanford C. Bernstein upped their target price on Caterpillar from $769.00 to $879.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Fifteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $980.57.

Insiders Place Their Bets

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the transaction, the chief financial officer owned 52,935 shares in the company, valued at approximately $48,631,913.85. This represents a 22.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the transaction, 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. Over the last quarter, insiders have sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is currently owned by company insiders.

Caterpillar Company 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.