Meiji Yasuda America Inc Cuts Stock Position in Caterpillar Inc. $CAT

Meiji Yasuda America Inc decreased its position in shares of Caterpillar Inc. (NYSE:CATFree Report) by 15.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 10,545 shares of the industrial products company’s stock after selling 1,902 shares during the period. Caterpillar accounts for about 1.8% of Meiji Yasuda America Inc’s holdings, making the stock its 14th largest position. Meiji Yasuda America Inc’s holdings in Caterpillar were worth $7,471,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Lam Group Inc. acquired a new stake in shares of Caterpillar during the first quarter worth about $26,000. Torren Management LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC grew its holdings in shares of Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 33 shares in the last quarter. IFS Advisors LLC purchased a new stake in Caterpillar during the 4th quarter worth approximately $31,000. Finally, Rialto Wealth Management LLC lifted its holdings in Caterpillar by 47.4% during the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after buying an additional 18 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar News Roundup

Here are the key news stories impacting Caterpillar this week:

Insiders Place Their Bets

In other news, insider Lange Bob De sold 24,222 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the sale, the insider owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. This trade represents a 21.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 5,642 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $883.03, for a total value of $4,982,055.26. Following the sale, the insider 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. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is currently owned by company insiders.

Caterpillar Price Performance

Shares of CAT opened at $889.40 on Wednesday. The firm has a market capitalization of $409.65 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 1.69 and a beta of 1.57. The firm’s fifty day simple moving average is $929.62 and its 200-day simple moving average is $799.21. Caterpillar Inc. has a twelve month low of $405.46 and a twelve month high of $1,073.46. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CATGet Free Report) last issued its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm had revenue of $17.41 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the previous year, the firm posted $4.25 earnings per share. The company’s revenue was up 22.2% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 24.87 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, July 20th. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio (DPR) is currently 32.45%.

Analyst Ratings Changes

Several research firms have commented on CAT. UBS Group restated a “neutral” rating and issued a $900.00 price target on shares of Caterpillar in a research note on Tuesday, June 2nd. Wolfe Research increased their price objective on Caterpillar from $670.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. lifted their target price on Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. HSBC upped their price target on Caterpillar from $850.00 to $1,100.00 in a report on Tuesday, May 5th. Finally, Oppenheimer increased their price target on Caterpillar from $980.00 to $1,105.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Fifteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $980.57.

View Our Latest Research Report on CAT

Caterpillar Company Profile

(Free Report)

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.

Featured Stories

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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