First Bank & Trust Takes Position in Caterpillar Inc. (NYSE:CAT)

First Bank & Trust bought a new stake in Caterpillar Inc. (NYSE:CAT) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 716 shares of the industrial products company’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. Norges Bank purchased a new stake in Caterpillar in the fourth quarter worth $1,660,560,000. International Assets Investment Management LLC lifted its position in shares of Caterpillar by 28,603.5% in the 4th 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 purchasing an additional 1,488,813 shares during the period. Capital Wealth Planning LLC increased its position in shares of Caterpillar by 27,495.2% during 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 during the period. Charles Schwab Investment Management Inc. raised its stake in Caterpillar by 19.4% in the fourth 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 in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Caterpillar by 5,293.1% in the fourth 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 during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $333.10 on Friday. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The firm has a market cap of $162.90 billion, a P/E ratio of 15.04, a PEG ratio of 1.71 and a beta of 1.14. The company has a 50 day moving average of $340.31 and a 200 day moving average of $329.04. 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 (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. As a group, research analysts expect that Caterpillar Inc. will post 21.84 EPS for the current fiscal 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 paid a dividend of $1.41 per share. The ex-dividend date is Monday, July 22nd. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 dividend on an annualized basis and a yield of 1.69%. Caterpillar’s payout ratio is currently 25.46%.

Caterpillar announced that its board has approved 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 repurchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CAT shares. TD Cowen lifted their price objective on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, April 26th. HSBC lifted their price objective on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Citigroup started coverage on Caterpillar in a research report on Wednesday. They set a “buy” rating and a $380.00 price objective on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $329.63.

Insider Buying and Selling at Caterpillar

In related news, Director David Maclennan bought 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $6,807,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan acquired 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $337.39 per share, with a total value of $168,695.00. Following the completion of the purchase, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

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.