Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 53.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,224 shares of the industrial products company’s stock after selling 81,276 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Caterpillar were worth $49,751,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Axxcess Wealth Management LLC increased its stake in shares of Caterpillar by 2.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock worth $12,844,000 after acquiring an additional 604 shares in the last quarter. Juno Financial Group LLC bought a new stake in Caterpillar during the fourth quarter worth about $877,000. DSG Capital Advisors LLC purchased a new stake in Caterpillar in the first quarter worth about $1,226,000. Cornerstone Planning LLC purchased a new stake in Caterpillar in the fourth quarter worth about $4,517,000. Finally, Ticino Wealth bought a new position in shares of Caterpillar during the fourth quarter valued at approximately $2,488,000. 70.98% of the stock is currently owned by institutional investors.
Caterpillar Trading Down 0.6%
Shares of NYSE:CAT opened at $889.23 on Friday. The stock’s 50-day simple moving average is $928.88 and its two-hundred day simple moving average is $804.12. The stock has a market capitalization of $409.57 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 1.74 and a beta of 1.57. Caterpillar Inc. has a 52-week low of $405.46 and a 52-week high of $1,073.46. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35.
Caterpillar Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be issued a dividend of $1.63 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, July 20th. Caterpillar’s dividend payout ratio is currently 32.45%.
Insiders Place Their Bets
In other news, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction on Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the transaction, the insider owned 46,041 shares in the company, valued at $42,210,388.80. This trade represents a 26.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 5,642 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the sale, the insider directly owned 9,594 shares of the company’s stock, valued at approximately $8,471,789.82. The trade was a 37.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 95,773 shares of company stock valued at $87,642,635. 0.33% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on CAT shares. DA Davidson boosted their price target on Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Wall Street Zen raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Zacks Research downgraded shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Argus raised their target price on shares of Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Fifteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $980.57.
Get Our Latest Report on Caterpillar
Caterpillar Profile
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.
In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.
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