Brookstone Capital Management Sells 5,110 Shares of Caterpillar, Inc. (CAT)
Brookstone Capital Management lessened its position in Caterpillar, Inc. (NYSE:CAT) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,450 shares of the industrial products company’s stock after selling 5,110 shares during the period. Brookstone Capital Management’s holdings in Caterpillar were worth $8,000,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. Baker Ellis Asset Management LLC acquired a new stake in shares of Caterpillar in the second quarter valued at about $104,000. Harbour Capital Advisors LLC acquired a new stake in shares of Caterpillar in the first quarter valued at about $107,000. First Personal Financial Services increased its stake in shares of Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares during the period. Harfst & Associates Inc. acquired a new stake in shares of Caterpillar in the first quarter valued at about $111,000. Finally, Chicago Partners Investment Group LLC increased its stake in shares of Caterpillar by 75.6% in the second quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock valued at $118,000 after buying an additional 496 shares during the period. 69.24% of the stock is owned by institutional investors and hedge funds.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at 126.93 on Monday. The firm has a 50-day moving average price of $120.60 and a 200-day moving average price of $107.99. Caterpillar, Inc. has a 52-week low of $80.33 and a 52-week high of $127.09. The stock has a market capitalization of $75.01 billion, a P/E ratio of 709.11 and a beta of 1.25.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. On average, analysts predict that Caterpillar, Inc. will post $5.25 EPS for the current year.
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In other news, insider Suzette M. Long sold 13,859 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the transaction, the insider now directly owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William A. Osborn sold 5,000 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock worth $22,979,332 over the last three months. Insiders own 0.14% of the company’s stock.
CAT has been the subject of several recent research reports. Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research note on Friday, June 16th. BMO Capital Markets reissued a “hold” rating and issued a $110.00 price target on shares of Caterpillar in a research note on Wednesday, June 21st. Bank of America Corporation set a $120.00 price target on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, June 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $123.00 target price on shares of Caterpillar in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG cut Caterpillar from a “buy” rating to a “hold” rating and decreased their target price for the stock from $121.00 to $106.00 in a research note on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $114.03.
Caterpillar Company Profile
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