Caterpillar Inc. $CAT Position Increased by Brookstone Capital Management

Brookstone Capital Management raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,428 shares of the industrial products company’s stock after purchasing an additional 5,717 shares during the period. Brookstone Capital Management’s holdings in Caterpillar were worth $23,847,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CAT. Valeo Financial Advisors LLC grew its position in shares of Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Caterpillar by 2,723.1% during the first quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock worth $466,430,000 after acquiring an additional 1,364,183 shares during the last quarter. Nuveen LLC bought a new position in shares of Caterpillar during the first quarter worth about $391,788,000. Assenagon Asset Management S.A. grew its position in shares of Caterpillar by 546.6% during the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after acquiring an additional 712,711 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Caterpillar by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock worth $1,064,951,000 after acquiring an additional 268,300 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several recent research reports. Jefferies Financial Group upped their price target on shares of Caterpillar from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Citigroup increased their target price on shares of Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Sanford C. Bernstein increased their target price on shares of Caterpillar from $447.00 to $502.00 and gave the company a “market perform” rating in a research report on Tuesday, October 14th. Barclays upped their price target on shares of Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. Finally, DA Davidson upped their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $515.40.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the sale, the chairman directly owned 448,173 shares of the company’s stock, valued at $226,457,335.17. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

CAT stock opened at $524.95 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99. The firm has a market capitalization of $245.93 billion, a PE ratio of 26.70, a P/E/G ratio of 3.02 and a beta of 1.46. The firm has a 50-day moving average of $458.10 and a two-hundred day moving average of $394.14.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the prior year, the company posted $5.99 earnings per share. Caterpillar’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s dividend payout ratio is currently 30.72%.

Caterpillar Company 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.