Brookstone Capital Management Has $23.85 Million Stake in Caterpillar Inc. $CAT

Brookstone Capital Management increased its position in Caterpillar Inc. (NYSE:CAT) by 10.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 61,428 shares of the industrial products company’s stock after acquiring an additional 5,717 shares during the period. Brookstone Capital Management’s holdings in Caterpillar were worth $23,847,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Aire Advisors LLC increased its holdings in Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after buying an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its holdings in Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after buying an additional 25 shares during the last quarter. GSB Wealth Management LLC increased its holdings in Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after buying an additional 26 shares during the last quarter. Verum Partners LLC increased its holdings in Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after buying an additional 26 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors increased its holdings in Caterpillar by 0.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAT shares. Truist Financial increased their price objective on Caterpillar from $507.00 to $582.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Robert W. Baird increased their price target on Caterpillar from $540.00 to $612.00 in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $515.40.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,985 shares of company stock valued at $25,559,300 over the last ninety days. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Down 1.2%

CAT opened at $524.95 on Wednesday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $544.99. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $245.93 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 3.02 and a beta of 1.46. The business has a 50 day moving average of $458.10 and a 200-day moving average of $394.14.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business earned $5.99 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is 30.72%.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.