Caterpillar Inc. (CAT) Stake Lessened by Highbridge Capital Management LLC

Highbridge Capital Management LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 83.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,159 shares of the industrial products company’s stock after selling 10,792 shares during the period. Highbridge Capital Management LLC’s holdings in Caterpillar were worth $318,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Blue Chip Wealth Management Inc. acquired a new position in Caterpillar during the first quarter valued at $227,000. Assetmark Inc. raised its position in Caterpillar by 47.1% during the first quarter. Assetmark Inc. now owns 3,647 shares of the industrial products company’s stock valued at $538,000 after buying an additional 1,168 shares during the period. TLP Group LLC raised its position in Caterpillar by 288.2% during the first quarter. TLP Group LLC now owns 4,338 shares of the industrial products company’s stock valued at $639,000 after buying an additional 6,643 shares during the period. Verition Fund Management LLC acquired a new position in Caterpillar during the first quarter valued at $3,050,000. Finally, Hilltop Holdings Inc. acquired a new position in Caterpillar during the first quarter valued at $393,000. 66.84% of the stock is currently owned by institutional investors.

In other Caterpillar news, Director David L. Calhoun bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The stock was purchased at an average price of $155.37 per share, for a total transaction of $776,850.00. Following the purchase, the director now directly owns 19,579 shares in the company, valued at $3,041,989.23. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas A. Pellette sold 54,481 shares of the stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $150.17, for a total value of $8,181,411.77. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

Several research analysts recently weighed in on CAT shares. TheStreet raised Caterpillar from a “c+” rating to an “a-” rating in a research report on Tuesday, April 24th. Vetr lowered Caterpillar from a “strong-buy” rating to a “buy” rating and set a $169.76 price target on the stock. in a research report on Monday, March 19th. Credit Suisse Group reissued a “buy” rating and set a $210.00 price target on shares of Caterpillar in a research report on Wednesday, March 14th. Buckingham Research started coverage on Caterpillar in a research report on Wednesday, April 11th. They set a “buy” rating and a $170.00 price target on the stock. Finally, Wells Fargo & Co set a $180.00 price target on Caterpillar and gave the company a “buy” rating in a research report on Monday, April 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $173.16.

CAT opened at $136.58 on Tuesday. The stock has a market cap of $83.68 billion, a PE ratio of 19.85, a P/E/G ratio of 0.98 and a beta of 1.32. Caterpillar Inc. has a 52-week low of $103.44 and a 52-week high of $173.24. The company has a quick ratio of 0.96, a current ratio of 1.36 and a debt-to-equity ratio of 1.52.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.71. The company had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.99 billion. Caterpillar had a return on equity of 34.38% and a net margin of 4.59%. The firm’s revenue was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 EPS. equities research analysts forecast that Caterpillar Inc. will post 10.74 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Friday, July 20th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Thursday, July 19th. This is an increase from Caterpillar’s previous quarterly dividend of $0.78. Caterpillar’s dividend payout ratio is 45.35%.

About Caterpillar

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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