Abbrea Capital LLC Raises Position in Caterpillar Inc. (CAT)

Abbrea Capital LLC boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 48.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,033 shares of the industrial products company’s stock after acquiring an additional 995 shares during the period. Abbrea Capital LLC’s holdings in Caterpillar were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gradient Investments LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $113,000. Lee Financial Co lifted its holdings in Caterpillar by 365.1% in the 1st quarter. Lee Financial Co now owns 814 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 639 shares in the last quarter. Ballew Advisors Inc purchased a new position in Caterpillar in the 1st quarter valued at about $121,000. Harvest Fund Management Co. Ltd purchased a new position in Caterpillar in the 4th quarter valued at about $131,000. Finally, Clearbridge LLC purchased a new position in Caterpillar in the 4th quarter valued at about $140,000. 66.86% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on CAT shares. TheStreet upgraded shares of Caterpillar from a “c+” rating to an “a-” rating in a report on Tuesday, April 24th. Vetr upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $170.44 target price on the stock in a report on Monday, January 29th. Argus upgraded shares of Caterpillar to a “buy” rating in a report on Friday, February 2nd. ValuEngine upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, UBS upped their target price on shares of Caterpillar from $180.00 to $190.00 and gave the company a “buy” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $172.55.

In related news, CFO Joseph E. Creed sold 4,532 shares of the stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $155.67, for a total transaction of $705,496.44. Following the completion of the sale, the chief financial officer now owns 2,554 shares of the company’s stock, valued at approximately $397,581.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David L. Calhoun bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average cost of $155.37 per share, with a total value of $776,850.00. Following the transaction, the director now owns 19,579 shares in the company, valued at approximately $3,041,989.23. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.

CAT opened at $157.74 on Thursday. The company has a market cap of $95.03 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. Caterpillar Inc. has a 1 year low of $102.30 and a 1 year high of $173.24. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.36 and a quick ratio of 0.96.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.71. The firm had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.99 billion. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The company’s revenue was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. analysts expect that Caterpillar Inc. will post 10.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, May 19th. Investors of record on Monday, April 23rd were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Friday, April 20th. Caterpillar’s dividend payout ratio (DPR) is presently 45.35%.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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