Rehmann Capital Advisory Group Raises Holdings in Caterpillar Inc. (NYSE:CAT)

Rehmann Capital Advisory Group grew its position in shares of Caterpillar Inc. (NYSE:CATFree Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,618 shares of the industrial products company’s stock after purchasing an additional 156 shares during the period. Rehmann Capital Advisory Group’s holdings in Caterpillar were worth $1,326,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. boosted its position in shares of Caterpillar by 12.9% during the third quarter. Harbour Investments Inc. now owns 5,890 shares of the industrial products company’s stock valued at $1,608,000 after buying an additional 673 shares during the period. Financial Gravity Asset Management Inc. boosted its position in shares of Caterpillar by 148.4% during the third quarter. Financial Gravity Asset Management Inc. now owns 703 shares of the industrial products company’s stock valued at $192,000 after buying an additional 420 shares during the period. Creative Planning boosted its position in shares of Caterpillar by 3.1% during the third quarter. Creative Planning now owns 167,131 shares of the industrial products company’s stock valued at $45,627,000 after buying an additional 4,988 shares during the period. Spartan Planning & Wealth Management bought a new stake in shares of Caterpillar during the third quarter valued at approximately $213,000. Finally, Savoie Capital LLC bought a new stake in shares of Caterpillar during the third quarter valued at approximately $946,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Lange Bob De sold 21,847 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the transaction, the insider now owns 71,115 shares in the company, valued at approximately $25,380,943.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David Maclennan purchased 500 shares of Caterpillar stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $337.39 per share, with a total value of $168,695.00. Following the transaction, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

Shares of CAT traded up $0.27 during trading hours on Wednesday, reaching $326.33. 1,630,169 shares of the company traded hands, compared to its average volume of 2,682,886. The stock has a market capitalization of $159.59 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.70 and a beta of 1.12. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The business has a fifty day moving average price of $337.33 and a 200-day moving average price of $331.46.

Caterpillar (NYSE:CATGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. Equities analysts anticipate that Caterpillar Inc. will post 21.73 EPS for the current fiscal year.

Caterpillar declared that its board has authorized a stock repurchase program on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.73%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio is presently 23.48%.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and lifted their price target for the company from $293.00 to $350.00 in a research note on Friday, April 26th. HSBC lifted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. TD Cowen lifted their price target on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $329.63.

View Our Latest Analysis on CAT

About Caterpillar

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CATFree Report).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.