Reitz Capital Advisors LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Share on StockTwits

Reitz Capital Advisors LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 900 shares of the industrial products company’s stock, valued at approximately $114,000.

Other institutional investors have also modified their holdings of the company. Wealth Quarterback LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at $14,912,310,000. Geode Capital Management LLC grew its holdings in shares of Caterpillar by 1.4% during the first quarter. Geode Capital Management LLC now owns 7,687,192 shares of the industrial products company’s stock worth $890,345,000 after purchasing an additional 102,641 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Caterpillar by 17.9% during the first quarter. Wellington Management Group LLP now owns 6,735,624 shares of the industrial products company’s stock worth $781,602,000 after purchasing an additional 1,023,938 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Caterpillar by 1.1% during the first quarter. Fisher Asset Management LLC now owns 5,609,147 shares of the industrial products company’s stock worth $650,885,000 after buying an additional 62,036 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Caterpillar during the fourth quarter worth about $754,296,000. Institutional investors own 66.80% of the company’s stock.

CAT traded up $6.31 during midday trading on Tuesday, hitting $136.88. The company had a trading volume of 6,452,997 shares, compared to its average volume of 4,542,788. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.97 and a current ratio of 1.42. The company has a market capitalization of $69.28 billion, a PE ratio of 14.50, a P/E/G ratio of 2.01 and a beta of 1.10. Caterpillar Inc. has a twelve month low of $87.50 and a twelve month high of $150.55. The firm’s 50-day simple moving average is $125.75 and its 200-day simple moving average is $124.91.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.09). Caterpillar had a return on equity of 37.15% and a net margin of 10.41%. The business had revenue of $10.64 billion for the quarter, compared to analyst estimates of $10.98 billion. During the same quarter in the prior year, the firm earned $2.94 EPS. The firm’s quarterly revenue was down 21.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 5.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, July 20th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, July 17th. Caterpillar’s dividend payout ratio is 37.25%.

A number of research firms have recently issued reports on CAT. Wells Fargo & Co reduced their price target on shares of Caterpillar from $150.00 to $120.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 17th. BofA Securities raised shares of Caterpillar from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 8th. Deutsche Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating and upped their price target for the stock from $126.50 to $166.00 in a research report on Tuesday, June 30th. Stifel Nicolaus raised shares of Caterpillar from a “hold” rating to a “buy” rating and decreased their price target for the stock from $140.00 to $137.00 in a research report on Monday, March 16th. Finally, Sanford C. Bernstein lowered shares of Caterpillar from an “outperform” rating to a “market perform” rating in a report on Friday, June 12th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $134.79.

Caterpillar Company Profile

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.

Featured Article: What is Compound Annual Growth Rate (CAGR)?

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.