MWA Asset Management Sells 60 Shares of Caterpillar Inc. (NYSE:CAT)

MWA Asset Management trimmed its position in Caterpillar Inc. (NYSE:CAT) by 0.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,259 shares of the industrial products company’s stock after selling 60 shares during the period. Caterpillar accounts for about 2.7% of MWA Asset Management’s investment portfolio, making the stock its 8th biggest holding. MWA Asset Management’s holdings in Caterpillar were worth $3,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Caterpillar in the fourth quarter valued at approximately $1,660,560,000. Capital Wealth Planning LLC lifted its holdings in shares of Caterpillar by 27,495.2% in the 4th quarter. Capital Wealth Planning LLC now owns 1,182,453 shares of the industrial products company’s stock worth $349,616,000 after purchasing an additional 1,178,168 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 19.4% during the 4th 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 during the last quarter. Canada Pension Plan Investment Board increased its position in Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after buying an additional 307,479 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Caterpillar by 139.7% in the fourth quarter. Victory Capital Management Inc. now owns 502,267 shares of the industrial products company’s stock valued at $148,505,000 after buying an additional 292,710 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Price Performance

CAT stock traded up $0.07 on Tuesday, hitting $351.23. 1,210,755 shares of the company’s stock traded hands, compared to its average volume of 2,691,051. The stock has a market cap of $171.77 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.72 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 fifty day moving average of $337.36 and a 200-day moving average of $342.20.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.55 EPS. On average, analysts forecast that Caterpillar Inc. will post 21.57 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, July 22nd were paid a $1.41 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.61%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on CAT shares. Raymond James started coverage on shares of Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. UBS Group increased their price objective on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. HSBC lifted their target price on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Finally, Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $336.31.

Insiders Place Their Bets

In related news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred 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 owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,991 shares of company stock worth $2,059,398. Company insiders own 0.33% of the company’s stock.

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.