Brookstone Capital Management Increases Stake in Caterpillar Inc. (NYSE:CAT)

Brookstone Capital Management boosted its position in Caterpillar Inc. (NYSE:CAT) by 0.3% during the 2nd quarter, Holdings Channel reports. The fund owned 32,359 shares of the industrial products company’s stock after acquiring an additional 95 shares during the quarter. Brookstone Capital Management’s holdings in Caterpillar were worth $7,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horan Securities Inc. increased its position in shares of Caterpillar by 678.6% during the first quarter. Horan Securities Inc. now owns 109 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares in the last quarter. West Financial Advisors LLC acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $25,000. Atlas Capital Advisors LLC increased its holdings in shares of Caterpillar by 272.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in Caterpillar by 730.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 95 shares during the last quarter. Finally, TFC Financial Management Inc. grew its position in Caterpillar by 470.8% during the 1st quarter. TFC Financial Management Inc. now owns 137 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lange Bob De sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $275.00, for a total value of $5,500,000.00. Following the transaction, the insider now owns 53,671 shares in the company, valued at $14,759,525. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Lange Bob De sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total value of $5,500,000.00. Following the sale, the insider now owns 53,671 shares in the company, valued at approximately $14,759,525. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cheryl H. Johnson sold 18,294 shares of Caterpillar stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $286.33, for a total value of $5,238,121.02. Following the completion of the transaction, the insider now owns 16,362 shares of the company’s stock, valued at $4,684,931.46. The disclosure for this sale can be found here. Insiders have sold 54,918 shares of company stock worth $15,299,870 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CAT. StockNews.com cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Thursday. Tigress Financial increased their price objective on Caterpillar from $266.00 to $282.00 in a research report on Wednesday, May 31st. Citigroup boosted their target price on Caterpillar from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Monday, July 17th. TD Cowen raised their target price on shares of Caterpillar from $287.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Caterpillar from $275.00 to $315.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has a consensus rating of “Hold” and an average price target of $267.00.

Caterpillar Stock Down 1.2 %

Shares of Caterpillar stock opened at $279.15 on Monday. The company has a fifty day moving average price of $272.99 and a 200 day moving average price of $242.30. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. Caterpillar Inc. has a twelve month low of $160.60 and a twelve month high of $293.88. The stock has a market cap of $142.39 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.13.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $5.55 EPS for the quarter, topping the consensus estimate of $4.57 by $0.98. The firm had revenue of $17.30 billion for the quarter, compared to analyst estimates of $16.46 billion. Caterpillar had a return on equity of 55.93% and a net margin of 12.91%. Caterpillar’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.18 EPS. Equities research analysts forecast that Caterpillar Inc. will post 19.82 earnings per share for the current fiscal year.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.