Caterpillar Inc. (NYSE:CAT) Shares Purchased by Westchester Capital Management Inc.

by · The Cerbat Gem

Westchester Capital Management Inc. raised its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,958 shares of the industrial products company’s stock after buying an additional 281 shares during the quarter. Caterpillar comprises 4.7% of Westchester Capital Management Inc.’s portfolio, making the stock its 5th biggest position. Westchester Capital Management Inc.’s holdings in Caterpillar were worth $16,967,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CAT. Moneta Group Investment Advisors LLC grew its position in shares of Caterpillar by 130,632.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock valued at $2,343,859,000 after purchasing an additional 9,776,533 shares during the period. Geode Capital Management LLC grew its position in shares of Caterpillar by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 9,532,245 shares of the industrial products company’s stock valued at $2,339,234,000 after purchasing an additional 156,608 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Caterpillar by 98,763.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,679,209 shares of the industrial products company’s stock valued at $2,135,519,000 after purchasing an additional 8,670,430 shares during the period. Fisher Asset Management LLC grew its position in shares of Caterpillar by 2.7% in the 2nd quarter. Fisher Asset Management LLC now owns 7,725,757 shares of the industrial products company’s stock valued at $1,900,922,000 after purchasing an additional 202,888 shares during the period. Finally, Morgan Stanley grew its position in shares of Caterpillar by 17.2% in the 4th quarter. Morgan Stanley now owns 6,608,165 shares of the industrial products company’s stock valued at $1,583,053,000 after purchasing an additional 969,222 shares during the period. 69.20% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Caterpillar stock traded down $4.03 during mid-day trading on Monday, hitting $252.73. 733,011 shares of the company’s stock traded hands, compared to its average volume of 3,033,455. The firm has a 50 day simple moving average of $253.52 and a two-hundred day simple moving average of $255.41. Caterpillar Inc. has a fifty-two week low of $204.04 and a fifty-two week high of $293.88. The stock has a market cap of $128.66 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.04 and a beta of 1.09. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.45 and a quick ratio of 0.92.

Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $4.75 by $0.77. The firm had revenue of $16.81 billion for the quarter, compared to analysts’ expectations of $16.57 billion. Caterpillar had a return on equity of 56.29% and a net margin of 13.69%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.95 EPS. On average, research analysts expect that Caterpillar Inc. will post 20.58 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 23rd were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, October 20th. Caterpillar’s payout ratio is 29.46%.

Wall Street Analyst Weigh In

CAT has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Caterpillar from $315.00 to $320.00 and gave the company an “overweight” rating in a research note on Monday, October 16th. HSBC initiated coverage on Caterpillar in a research report on Monday, November 20th. They set a “hold” rating and a $250.00 price target for the company. The Goldman Sachs Group reduced their price target on Caterpillar from $315.00 to $274.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Bank of America reduced their price target on Caterpillar from $323.00 to $297.00 in a research report on Wednesday, October 11th. Finally, StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $266.80.

View Our Latest Stock Analysis on Caterpillar

About Caterpillar

(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 the United States and internationally. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, tractors, excavators, telehandlers, motor graders, and pipelayers; compact track and multi-terrain, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

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