First Trust Advisors LP Has $52.34 Million Stake in Caterpillar Inc. (CAT)

First Trust Advisors LP boosted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,161 shares of the industrial products company’s stock after acquiring an additional 28,967 shares during the period. First Trust Advisors LP owned 0.06% of Caterpillar worth $52,342,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ironwood Investment Counsel LLC grew its position in Caterpillar by 0.3% during the second quarter. Ironwood Investment Counsel LLC now owns 3,425 shares of the industrial products company’s stock valued at $368,000 after buying an additional 10 shares during the period. Southeast Asset Advisors Inc. grew its position in Caterpillar by 0.3% during the second quarter. Southeast Asset Advisors Inc. now owns 4,279 shares of the industrial products company’s stock valued at $460,000 after buying an additional 12 shares during the period. WFG Advisors LP grew its position in Caterpillar by 0.4% during the second quarter. WFG Advisors LP now owns 8,538 shares of the industrial products company’s stock valued at $917,000 after buying an additional 33 shares during the period. Thompson Davis & CO. Inc. grew its position in Caterpillar by 1.0% during the second quarter. Thompson Davis & CO. Inc. now owns 4,931 shares of the industrial products company’s stock valued at $530,000 after buying an additional 50 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in Caterpillar by 6.9% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,597 shares of the industrial products company’s stock valued at $168,000 after buying an additional 103 shares during the period. 68.70% of the stock is owned by institutional investors.

CAT has been the topic of several analyst reports. Barclays set a $180.00 price target on shares of Caterpillar and gave the company an “overweight” rating in a report on Wednesday, January 24th. Bank of America boosted their target price on shares of Caterpillar from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Wells Fargo & Co boosted their target price on shares of Caterpillar from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Vetr raised shares of Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 price target on the stock in a research note on Monday, January 15th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $170.00 price target on shares of Caterpillar in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $167.60.

Caterpillar Inc. (NYSE CAT) traded up $3.55 during trading hours on Friday, reaching $162.41. 4,450,000 shares of the company were exchanged, compared to its average volume of 7,040,000. Caterpillar Inc. has a 52 week low of $90.34 and a 52 week high of $173.24. The stock has a market capitalization of $96,620.00, a price-to-earnings ratio of 31.05, a PEG ratio of 1.70 and a beta of 1.22. The company has a current ratio of 1.35, a quick ratio of 0.97 and a debt-to-equity ratio of 1.73.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.39. The business had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.01 billion. Caterpillar had a net margin of 1.66% and a return on equity of 28.69%. The company’s quarterly revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 earnings per share. sell-side analysts predict that Caterpillar Inc. will post 9.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Friday, January 19th. Caterpillar’s payout ratio is 59.66%.

In related news, insider Bradley M. Halverson sold 2,600 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $137.67, for a total value of $357,942.00. Following the completion of the transaction, the insider now directly owns 5,214 shares of the company’s stock, valued at approximately $717,811.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas A. Pellette sold 95,199 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the transaction, the insider now directly owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,327 shares of company stock valued at $15,968,670. Insiders own 0.14% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “First Trust Advisors LP Has $52.34 Million Stake in Caterpillar Inc. (CAT)” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://stocknewstimes.com/2018/02/24/caterpillar-inc-cat-stake-raised-by-first-trust-advisors-lp.html.

About Caterpillar

Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply