Total Investment Management Inc. Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Total Investment Management Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,058 shares of the industrial products company’s stock after selling 117 shares during the period. Total Investment Management Inc.’s holdings in Caterpillar were worth $754,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $1,660,560,000. International Assets Investment Management LLC grew its holdings in Caterpillar by 28,603.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock valued at $4,417,360,000 after purchasing an additional 1,488,813 shares during the last quarter. Capital Wealth Planning LLC increased its position in shares of Caterpillar by 27,495.2% in the fourth quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock valued at $349,616,000 after buying an additional 1,178,168 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Caterpillar by 19.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock worth $947,875,000 after buying an additional 529,420 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Caterpillar by 5,293.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 482,360 shares of the industrial products company’s stock worth $142,620,000 after buying an additional 473,416 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Truist Financial started coverage on shares of Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price for the company. TD Cowen upped their target price on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. raised their price target on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Citigroup initiated coverage on Caterpillar in a research report on Wednesday. They issued a “buy” rating and a $380.00 price objective on the stock. Finally, The Goldman Sachs Group lifted their price objective on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $329.63.

Caterpillar Trading Up 1.7 %

Shares of NYSE:CAT traded up $5.64 during trading on Friday, reaching $333.10. 8,891,479 shares of the stock were exchanged, compared to its average volume of 3,519,845. The firm’s 50-day moving average price is $340.31 and its 200 day moving average price is $328.57. The firm has a market cap of $162.90 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.68 and a beta of 1.14. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. On average, sell-side analysts anticipate that Caterpillar Inc. will post 21.84 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be given a $1.41 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.69%. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is presently 23.48%.

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

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan bought 500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the transaction, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director David Maclennan acquired 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $337.39 per share, with a total value of $168,695.00. Following the acquisition, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lange Bob De sold 21,847 shares of the business’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 transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

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.