116,574 Shares in Caterpillar Inc. (NYSE:CAT) Purchased by OFI Invest Asset Management

OFI Invest Asset Management bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 4th quarter, HoldingsChannel reports. The firm bought 116,574 shares of the industrial products company’s stock, valued at approximately $40,839,000. Caterpillar comprises approximately 1.0% of OFI Invest Asset Management’s investment portfolio, making the stock its 26th largest position.

A number of other hedge funds have also made changes to their positions in CAT. Principal Financial Group Inc. lifted its position in Caterpillar by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock worth $285,382,000 after buying an additional 5,371 shares in the last quarter. Summit Global Investments raised its holdings in shares of Caterpillar by 6.7% during the third quarter. Summit Global Investments now owns 1,843 shares of the industrial products company’s stock worth $721,000 after acquiring an additional 115 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Caterpillar during the third quarter valued at $36,000. Leavell Investment Management Inc. grew its stake in Caterpillar by 18.9% in the third quarter. Leavell Investment Management Inc. now owns 14,178 shares of the industrial products company’s stock valued at $5,545,000 after purchasing an additional 2,256 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its position in Caterpillar by 0.9% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 97,282 shares of the industrial products company’s stock worth $38,037,000 after purchasing an additional 879 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

NYSE CAT opened at $350.97 on Friday. The company’s fifty day moving average is $363.11 and its two-hundred day moving average is $372.77. The firm has a market capitalization of $167.74 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Tuesday, January 21st. Caterpillar’s payout ratio is 25.56%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wedbush raised Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group upped their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Bank of America reduced their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Morgan Stanley lowered their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus target price of $383.80.

Insider Activity

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the transaction, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company 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.