Verition Fund Management LLC Takes $3.05 Million Position in Caterpillar Inc. (CAT)

Verition Fund Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 20,694 shares of the industrial products company’s stock, valued at approximately $3,050,000.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Caterpillar by 6.5% during the fourth quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after buying an additional 2,297,750 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Caterpillar by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 6,212,261 shares of the industrial products company’s stock valued at $976,845,000 after buying an additional 323,920 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Caterpillar by 17.7% during the fourth quarter. TIAA CREF Investment Management LLC now owns 4,035,424 shares of the industrial products company’s stock valued at $635,902,000 after buying an additional 607,875 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Caterpillar by 1.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 2,380,679 shares of the industrial products company’s stock valued at $350,865,000 after buying an additional 34,141 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Caterpillar by 2.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,093,797 shares of the industrial products company’s stock valued at $308,584,000 after buying an additional 59,405 shares during the last quarter. Hedge funds and other institutional investors own 66.86% of the company’s stock.

A number of equities research analysts have recently commented on CAT shares. TheStreet upgraded shares of Caterpillar from a “c+” rating to an “a-” rating in a report on Tuesday, April 24th. Vetr downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating and set a $169.76 price objective on the stock. in a research report on Monday, March 19th. Credit Suisse Group restated a “buy” rating and set a $210.00 price objective on shares of Caterpillar in a research report on Wednesday, March 14th. UBS Group set a $190.00 price objective on shares of Caterpillar and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, Buckingham Research assumed coverage on shares of Caterpillar in a research report on Wednesday, April 11th. They set a “buy” rating and a $170.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $172.86.

In other news, Director David L. Calhoun acquired 5,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The shares were purchased at an average cost of $155.37 per share, for a total transaction of $776,850.00. Following the transaction, the director now directly owns 19,579 shares of the company’s stock, valued at $3,041,989.23. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Joseph E. Creed sold 4,532 shares of the firm’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $155.67, for a total transaction of $705,496.44. Following the sale, the chief financial officer now owns 2,554 shares in the company, valued at $397,581.18. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.

Caterpillar opened at $156.23 on Thursday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.96 and a current ratio of 1.36. Caterpillar Inc. has a 1-year low of $102.30 and a 1-year high of $173.24. The company has a market capitalization of $93.46 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 1.10 and a beta of 1.32.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.71. Caterpillar had a net margin of 4.59% and a return on equity of 34.38%. The business had revenue of $12.86 billion for the quarter, compared to the consensus estimate of $11.99 billion. During the same period last year, the firm earned $1.28 earnings per share. The company’s quarterly revenue was up 30.9% on a year-over-year basis. equities analysts anticipate that Caterpillar Inc. will post 10.72 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Shareholders of record on Friday, July 20th will be given a $0.86 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $0.78. This represents a $3.44 annualized dividend and a yield of 2.20%. Caterpillar’s dividend payout ratio (DPR) is presently 45.35%.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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