FARMERS & MERCHANTS TRUST Co OF LONG BEACH Takes Position in Caterpillar Inc. (NYSE:CAT)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 670 shares of the industrial products company’s stock, valued at approximately $246,000.

A number of other large investors also recently made changes to their positions in CAT. Vanguard Group Inc. increased its stake in Caterpillar by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after buying an additional 129,216 shares during the period. Capital World Investors increased its stake in shares of Caterpillar by 0.3% in the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock worth $8,583,372,000 after acquiring an additional 96,479 shares during the last quarter. Fisher Asset Management LLC boosted its position in Caterpillar by 2.3% during 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 purchasing an additional 179,908 shares during the last quarter. Morgan Stanley grew its stake in Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after purchasing an additional 47,258 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Caterpillar during the 4th quarter worth about $1,660,560,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 0.4 %

Shares of CAT opened at $327.74 on Wednesday. The stock has a market cap of $160.28 billion, a PE ratio of 14.80, a PEG ratio of 1.71 and a beta of 1.12. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. 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 stock has a 50 day simple moving average of $339.03 and a 200-day simple moving average of $330.08.

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

Caterpillar Increases Dividend

The company 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 $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is 23.48%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Stifel Nicolaus downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and raised their price target for the company from $293.00 to $350.00 in a report on Friday, April 26th. HSBC upped their price target on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Citigroup began coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $329.63.

Insider Activity

In other Caterpillar news, Director David Maclennan bought 500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $337.39 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Caterpillar news, Director David Maclennan bought 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the purchase, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the 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 transaction, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. 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.