Nisa Investment Advisors LLC Raises Stake in Caterpillar Inc. (CAT)
Nisa Investment Advisors LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 11.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 239,920 shares of the company’s stock after buying an additional 25,210 shares during the period. Nisa Investment Advisors LLC’s holdings in Caterpillar were worth $18,188,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Kelly Lawrence W & Associates Inc. CA boosted its position in shares of Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock valued at $115,000 after buying an additional 200 shares in the last quarter. Cypress Capital Group acquired a new position in shares of Caterpillar during the first quarter valued at $207,000. Iowa State Bank boosted its position in shares of Caterpillar by 1.8% in the second quarter. Iowa State Bank now owns 2,770 shares of the company’s stock valued at $210,000 after buying an additional 50 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Caterpillar by 84.4% in the first quarter. MCF Advisors LLC now owns 2,846 shares of the company’s stock valued at $218,000 after buying an additional 1,303 shares in the last quarter. Finally, Accredited Investors Inc. acquired a new position in shares of Caterpillar during the first quarter valued at $218,000. Institutional investors and hedge funds own 69.03% of the company’s stock.
Shares of Caterpillar Inc. (NYSE:CAT) traded up 1.49% during midday trading on Friday, hitting $88.77. 6,379,056 shares of the stock traded hands. Caterpillar Inc. has a 52-week low of $56.36 and a 52-week high of $88.98. The company has a market cap of $51.86 billion, a price-to-earnings ratio of 59.18 and a beta of 1.64. The stock has a 50-day moving average of $83.10 and a 200-day moving average of $78.10.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The firm earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same period last year, the business earned $1.27 earnings per share. Caterpillar’s revenue was down 16.0% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post $3.50 earnings per share for the current fiscal year.
CAT has been the topic of several analyst reports. TheStreet upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Credit Suisse Group AG reiterated a “buy” rating and set a $87.00 price target on shares of Caterpillar in a research note on Wednesday, July 13th. Deutsche Bank AG initiated coverage on shares of Caterpillar in a research note on Tuesday, September 6th. They set a “buy” rating and a $72.56 price target on the stock. Vetr upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $85.19 price target on the stock in a research note on Tuesday, September 13th. Finally, Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. Caterpillar currently has a consensus rating of “Hold” and an average price target of $72.62.
In other news, Director Dennis A. Muilenburg acquired 1,930 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was purchased at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the transaction, the director now owns 9,558 shares in the company, valued at $790,924.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley M. Halverson sold 2,841 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the sale, the insider now owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
Caterpillar Company Profile
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 its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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