Nisa Investment Advisors LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 11.7% during the second quarter, Holdings Channel reports. 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.
A number of other large investors have also recently added to or reduced their stakes in CAT. Kelly Lawrence W & Associates Inc. CA boosted its stake 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 worth $115,000 after buying an additional 200 shares in the last quarter. Cypress Capital Group bought a new stake in shares of Caterpillar during the first quarter worth $207,000. Iowa State Bank boosted its stake in shares of Caterpillar by 1.8% in the second quarter. Iowa State Bank now owns 2,770 shares of the company’s stock worth $210,000 after buying an additional 50 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Caterpillar by 84.4% in the first quarter. MCF Advisors LLC now owns 2,846 shares of the company’s stock worth $218,000 after buying an additional 1,303 shares in the last quarter. Finally, Accredited Investors Inc. bought a new stake in shares of Caterpillar during the first quarter worth $218,000. Hedge funds and other institutional investors own 69.03% of the company’s stock.
Caterpillar Inc. (NYSE:CAT) traded up 1.49% during trading on Friday, hitting $88.77. 6,379,056 shares of the stock were exchanged. Caterpillar Inc. has a one year low of $56.36 and a one year high of $88.98. The stock’s 50 day moving average is $83.10 and its 200-day moving average is $78.10. The company has a market cap of $51.86 billion, a price-to-earnings ratio of 59.18 and a beta of 1.64.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.13. The company earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The business’s revenue was down 16.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 EPS. On average, equities research analysts expect that Caterpillar Inc. will post $3.50 earnings per share for the current fiscal year.
CAT has been the subject of a number of recent analyst reports. Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $80.92 price target for the company. in a research report on Wednesday, June 8th. Jefferies Group reiterated a “hold” rating and set a $69.00 price target on shares of Caterpillar in a research report on Tuesday, June 21st. Zacks Investment Research cut shares of Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. Credit Suisse Group AG reiterated a “buy” rating and set a $87.00 price target on shares of Caterpillar in a research report on Wednesday, July 13th. Finally, Royal Bank Of Canada lifted their price target on shares of Caterpillar from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $72.62.
In other Caterpillar news, Director Dennis A. Muilenburg bought 1,930 shares of Caterpillar stock in a transaction dated Friday, July 29th. The stock was bought at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the purchase, the director now owns 9,558 shares in the company, valued at approximately $790,924.50. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the transaction, 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. Insiders own 0.15% of the company’s stock.
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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