Van ECK Associates Corp Sells 2,616 Shares of Caterpillar Inc. (NYSE:CAT)

Van ECK Associates Corp trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 24.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,275 shares of the industrial products company’s stock after selling 2,616 shares during the period. Van ECK Associates Corp’s holdings in Caterpillar were worth $1,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. Brand Asset Management Group Inc. acquired a new stake in Caterpillar during the first quarter valued at approximately $26,000. IronBridge Private Wealth LLC acquired a new stake in Caterpillar during the fourth quarter valued at approximately $30,000. Oder Investment Management LLC acquired a new stake in Caterpillar during the fourth quarter valued at approximately $34,000. Versant Capital Management Inc boosted its holdings in shares of Caterpillar by 51.0% in the 1st quarter. Versant Capital Management Inc now owns 145 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 49 shares in the last quarter. Finally, Dividend Assets Capital LLC boosted its holdings in shares of Caterpillar by 66.7% in the 1st quarter. Dividend Assets Capital LLC now owns 155 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 68.22% of the company’s stock.

In related news, Director David Maclennan purchased 420 shares of the stock in a transaction on Wednesday, May 5th. The shares were purchased at an average cost of $237.86 per share, with a total value of $99,901.20. Following the acquisition, the director now directly owns 890 shares in the company, valued at $211,695.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph E. Creed sold 7,699 shares of the stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $245.12, for a total transaction of $1,887,178.88. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

CAT has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of Caterpillar from $168.00 to $181.00 and gave the stock an “underweight” rating in a research report on Friday, April 30th. The Goldman Sachs Group restated a “buy” rating and issued a $264.00 price objective on shares of Caterpillar in a research report on Thursday, May 27th. BMO Capital Markets boosted their price objective on shares of Caterpillar from $190.00 to $230.00 and gave the stock a “market perform” rating in a research report on Friday, April 30th. Daiwa Capital Markets cut shares of Caterpillar from an “outperform” rating to a “neutral” rating in a research report on Friday, March 5th. Finally, Stifel Nicolaus upped their target price on shares of Caterpillar from $222.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $219.29.

Caterpillar stock opened at $219.34 on Friday. The business’s 50-day simple moving average is $232.24. Caterpillar Inc. has a one year low of $120.80 and a one year high of $246.69. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.15 and a current ratio of 1.60. The firm has a market cap of $120.15 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 1.86 and a beta of 0.93.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, April 29th. The industrial products company reported $2.87 EPS for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.94. Caterpillar had a net margin of 7.99% and a return on equity of 26.63%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11 billion. During the same period in the prior year, the business posted $1.60 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that Caterpillar Inc. will post 9.6 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 20th. Investors of record on Tuesday, July 20th will be paid a $1.11 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.03. This represents a $4.44 annualized dividend and a yield of 2.02%. The ex-dividend date is Monday, July 19th. Caterpillar’s dividend payout ratio (DPR) is 62.80%.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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