New York Life Investment Management LLC Purchases 55 Shares of Caterpillar Inc. $CAT

by · The Cerbat Gem

New York Life Investment Management LLC increased its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 0.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,136 shares of the industrial products company’s stock after acquiring an additional 55 shares during the quarter. New York Life Investment Management LLC’s holdings in Caterpillar were worth $24,898,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its position in shares of Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock valued at $2,833,836,000 after acquiring an additional 7,279,991 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company’s stock valued at $1,386,626,000 after acquiring an additional 264,054 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after acquiring an additional 15,347 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after acquiring an additional 268,300 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company’s stock valued at $1,036,211,000 after acquiring an additional 150,533 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Up 0.8%

CAT stock opened at $527.12 on Tuesday. The company has a market capitalization of $246.95 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. The company’s 50 day moving average price is $466.75 and its two-hundred day moving average price is $401.50. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34.

Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $5.99 earnings per share. As a group, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is 30.72%.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CAT. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Robert W. Baird lifted their target price on shares of Caterpillar from $540.00 to $612.00 in a research report on Monday, October 20th. UBS Group lifted their target price on shares of Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group lifted their target price on shares of Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.19.

Get Our Latest Analysis on CAT

Caterpillar Profile

(Free Report)

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.

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