Caterpillar Inc. (NYSE:CAT) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,645 shares of the industrial products company’s stock after selling 60 shares during the quarter. Oak Asset Management LLC’s holdings in Caterpillar were worth $2,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. LVW Advisors LLC lifted its position in Caterpillar by 52.9% during the 1st quarter. LVW Advisors LLC now owns 2,687 shares of the industrial products company’s stock worth $985,000 after acquiring an additional 930 shares during the period. Citizens Business Bank boosted its position in Caterpillar by 12.1% in the first quarter. Citizens Business Bank now owns 1,113 shares of the industrial products company’s stock valued at $408,000 after buying an additional 120 shares during the last quarter. Waterway Wealth Management LLC boosted its position in Caterpillar by 28.9% in the first quarter. Waterway Wealth Management LLC now owns 1,534 shares of the industrial products company’s stock valued at $562,000 after buying an additional 344 shares during the last quarter. D.B. Root & Company LLC purchased a new stake in Caterpillar in the first quarter valued at approximately $273,000. Finally, Cornerstone Wealth Group LLC boosted its position in Caterpillar by 290.6% in the first quarter. Cornerstone Wealth Group LLC now owns 4,484 shares of the industrial products company’s stock valued at $1,643,000 after buying an additional 3,336 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CAT. HSBC upped their target price on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. upped their target price on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the company from $293.00 to $350.00 in a research report on Friday, April 26th. Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group upped their price objective on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $329.63.

Caterpillar Trading Up 1.7 %

Shares of CAT stock opened at $333.10 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The company has a market cap of $162.90 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.71 and a beta of 1.12. The stock has a 50 day simple moving average of $340.31 and a 200-day simple moving average of $329.47. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. On average, equities research analysts expect that Caterpillar Inc. will post 21.84 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a $1.41 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio is currently 23.48%.

Caterpillar announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 21,847 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director David Maclennan bought 500 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $337.39 per share, with a total value of $168,695.00. Following the purchase, the director now directly owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the completion of the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

About Caterpillar

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.