1,648 Shares in Caterpillar Inc. (NYSE:CAT) Bought by Virtu Financial LLC

Virtu Financial LLC bought a new position in Caterpillar Inc. (NYSE:CAT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,648 shares of the industrial products company’s stock, valued at approximately $604,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Independence Bank of Kentucky lifted its position in shares of Caterpillar by 78.2% in the fourth quarter. Independence Bank of Kentucky now owns 645 shares of the industrial products company’s stock worth $191,000 after buying an additional 283 shares during the last quarter. Richard W. Paul & Associates LLC lifted its position in shares of Caterpillar by 5.4% during the 4th quarter. Richard W. Paul & Associates LLC now owns 1,228 shares of the industrial products company’s stock worth $363,000 after purchasing an additional 63 shares during the last quarter. Lewis Asset Management LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $209,000. Advisory Alpha LLC lifted its position in shares of Caterpillar by 1.8% during the 4th quarter. Advisory Alpha LLC now owns 3,885 shares of the industrial products company’s stock worth $1,149,000 after purchasing an additional 70 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC increased its stake in Caterpillar by 18.2% during the fourth quarter. Walkner Condon Financial Advisors LLC now owns 902 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 3.2 %

CAT traded down $10.67 during mid-day trading on Friday, reaching $320.85. The stock had a trading volume of 4,244,325 shares, compared to its average volume of 2,728,954. The stock has a market capitalization of $156.91 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.80 and a beta of 1.12. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. The firm’s fifty day simple moving average is $335.27 and its two-hundred day simple moving average is $337.03. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Caterpillar announced that its board has initiated a stock buyback plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have commented on CAT. HSBC upped their price target on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Citigroup began coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target for the company. Stifel Nicolaus cut Caterpillar from a “buy” rating to a “hold” rating and upped their price target for the company from $293.00 to $350.00 in a report on Friday, April 26th. The Goldman Sachs Group upped their price target on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus price target of $329.63.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the transaction, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 transaction of $7,797,194.30. Following the sale, the insider now owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the sale, the insider now directly owns 20,023 shares in the company, valued at approximately $6,807,820. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,863 shares of company stock worth $8,837,714. Insiders own 0.33% of the company’s stock.

Caterpillar Profile

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.