Caterpillar Inc. (NYSE:CAT) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 13.2% in the 1st quarter, HoldingsChannel reports. The firm owned 15,225 shares of the industrial products company’s stock after purchasing an additional 1,770 shares during the period. First Trust Direct Indexing L.P.’s holdings in Caterpillar were worth $5,579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $1,660,560,000. International Assets Investment Management LLC raised its holdings in shares of 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 worth $4,417,360,000 after acquiring an additional 1,488,813 shares during the last quarter. Capital Wealth Planning LLC lifted 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 acquiring an additional 1,178,168 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Caterpillar by 19.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,264,635 shares of the industrial products company’s stock valued at $947,875,000 after acquiring an additional 529,420 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Caterpillar by 5,293.1% during 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 purchasing an additional 473,416 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the completion of the transaction, 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 accessible through this link. In related news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the sale, the insider now directly owns 20,023 shares of the company’s stock, valued at $6,807,820. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David Maclennan bought 500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was purchased 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 approximately $1,935,943.82. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.9 %

NYSE CAT traded up $2.85 on Thursday, reaching $330.61. The company had a trading volume of 1,352,181 shares, compared to its average volume of 3,422,689. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The firm has a 50-day moving average of $338.37 and a 200-day moving average of $330.08. The firm has a market capitalization of $161.68 billion, a PE ratio of 14.93, a P/E/G ratio of 1.69 and a beta of 1.12.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share 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 business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. On average, equities research analysts anticipate that Caterpillar Inc. will post 21.8 EPS for the current fiscal year.

Caterpillar declared that its board has initiated a share repurchase plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a dividend of $1.41 per share. The ex-dividend date is Monday, July 22nd. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.71%. Caterpillar’s dividend payout ratio (DPR) is currently 23.48%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. HSBC upped their target price on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. The Goldman Sachs Group raised their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Citigroup assumed coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 target price for the company. TD Cowen raised their price objective on Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $329.63.

About Caterpillar

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.