Caterpillar Inc. (NYSE:CAT) Shares Sold by Graphene Investments SAS

Graphene Investments SAS decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 16.2% in the first quarter, HoldingsChannel reports. The firm owned 9,300 shares of the industrial products company’s stock after selling 1,800 shares during the quarter. Caterpillar accounts for 2.1% of Graphene Investments SAS’s portfolio, making the stock its 22nd biggest position. Graphene Investments SAS’s holdings in Caterpillar were worth $3,408,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Caterpillar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after purchasing an additional 129,216 shares during the period. Capital World Investors raised its position in Caterpillar by 0.3% during the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after acquiring an additional 96,479 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Caterpillar by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after acquiring an additional 179,908 shares during the period. Morgan Stanley grew its stake in shares of Caterpillar by 0.7% during the 3rd quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock worth $1,864,823,000 after purchasing an additional 47,258 shares during the period. Finally, Norges Bank acquired a new stake in Caterpillar during the fourth quarter valued at $1,660,560,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 0.9 %

CAT stock traded up $2.85 during trading on Wednesday, reaching $330.61. 1,352,181 shares of the stock were exchanged, compared to its average volume of 2,706,595. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $161.68 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.71 and a beta of 1.12. The business has a 50 day moving average price of $339.03 and a 200-day moving average price of $330.08. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating 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 firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. On average, research analysts predict that Caterpillar Inc. will post 21.8 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.41 dividend. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.71%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio is presently 23.48%.

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

Wall Street Analyst Weigh In

Several brokerages have commented on CAT. HSBC raised their price objective on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Raymond James assumed coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Citigroup began coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. Finally, Truist Financial began coverage on Caterpillar in a research report on Thursday, March 14th. They issued a “buy” rating and a $390.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $329.63.

Insider Buying and Selling

In other Caterpillar news, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction on 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 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 corporate insiders.

Caterpillar 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.