First Trust Advisors LP Has $20.75 Million Position in Caterpillar, Inc. (CAT)
First Trust Advisors LP lessened its holdings in Caterpillar, Inc. (NYSE:CAT) by 62.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,118 shares of the industrial products company’s stock after selling 326,050 shares during the period. First Trust Advisors LP’s holdings in Caterpillar were worth $20,752,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Baker Ellis Asset Management LLC bought a new stake in Caterpillar in the 2nd quarter worth about $104,000. Harbour Capital Advisors LLC bought a new stake in Caterpillar in the 1st quarter worth about $107,000. First Personal Financial Services grew its position in Caterpillar by 167.4% in the 1st quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 750 shares in the last quarter. Harfst & Associates Inc. bought a new stake in Caterpillar in the 1st quarter worth about $111,000. Finally, Chicago Partners Investment Group LLC grew its position in Caterpillar by 75.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 496 shares in the last quarter. Institutional investors own 69.24% of the company’s stock.
A number of equities research analysts have issued reports on CAT shares. TheStreet raised shares of Caterpillar from a “c+” rating to a “b” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Friday, July 14th. Credit Suisse Group reaffirmed a “buy” rating and issued a $123.00 price objective on shares of Caterpillar in a research report on Thursday, June 22nd. Bank of America Corporation set a $120.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Deutsche Bank AG reduced their price objective on shares of Caterpillar from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $114.03.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at 124.43 on Friday. The firm has a 50-day moving average of $116.33 and a 200 day moving average of $105.20. Caterpillar, Inc. has a 1-year low of $80.33 and a 1-year high of $125.42. The stock has a market capitalization of $73.53 billion, a PE ratio of 695.14 and a beta of 1.24.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts predict that Caterpillar, Inc. will post $5.25 EPS for the current year.
In other news, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock worth $22,979,332 in the last three months. Insiders own 0.15% of the company’s stock.
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