First Trust Advisors LP Has $108.44 Million Stake in Caterpillar Inc. $CAT

First Trust Advisors LP lowered its position in Caterpillar Inc. (NYSE:CAT) by 40.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,069 shares of the industrial products company’s stock after selling 103,684 shares during the quarter. First Trust Advisors LP’s holdings in Caterpillar were worth $108,443,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CAT. Saturna Capital Corp acquired a new position in shares of Caterpillar during the 1st quarter worth approximately $209,000. Chase Investment Counsel Corp increased its holdings in shares of Caterpillar by 57.0% in the first quarter. Chase Investment Counsel Corp now owns 1,443 shares of the industrial products company’s stock valued at $1,022,000 after purchasing an additional 524 shares during the last quarter. Fortis Capital Management LLC raised its position in shares of Caterpillar by 236.2% in the first quarter. Fortis Capital Management LLC now owns 1,772 shares of the industrial products company’s stock valued at $1,255,000 after purchasing an additional 1,245 shares during the period. CacheTech Inc. lifted its stake in shares of Caterpillar by 1.5% during the 1st quarter. CacheTech Inc. now owns 1,361 shares of the industrial products company’s stock worth $964,000 after buying an additional 20 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. bought a new stake in shares of Caterpillar during the 1st quarter worth about $412,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of Caterpillar from $1,043.00 to $1,218.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Daiwa Securities Group upped their target price on Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Caterpillar in a report on Friday, May 8th. Robert W. Baird boosted their price target on Caterpillar from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. Finally, Rothschild & Co Redburn increased their price objective on Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Fifteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $980.57.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 15,674 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 52,935 shares in the company, valued at approximately $48,631,913.85. This trade represents a 22.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William E. Schaupp sold 360 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total transaction of $326,160.00. Following the sale, the chief accounting officer directly owned 530 shares in the company, valued at $480,180. This trade represents a 40.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 95,773 shares of company stock worth $87,642,635 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $889.23 on Friday. The firm has a 50 day moving average of $928.88 and a 200-day moving average of $804.12. Caterpillar Inc. has a 12 month low of $405.46 and a 12 month high of $1,073.46. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $409.57 billion, a PE ratio of 44.26, a PEG ratio of 1.75 and a beta of 1.57.

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

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders 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. The ex-dividend date of this dividend is Monday, July 20th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.7%. Caterpillar’s payout ratio is presently 32.45%.

About Caterpillar

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.