FCG Investment Co Has $1.07 Million Stake in Caterpillar Inc. (NYSE:CAT)

FCG Investment Co lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 27.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,927 shares of the industrial products company’s stock after selling 1,082 shares during the quarter. FCG Investment Co’s holdings in Caterpillar were worth $1,073,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CAT. Alps Advisors Inc. grew its position in shares of Caterpillar by 156.2% during the 3rd quarter. Alps Advisors Inc. now owns 27,384 shares of the industrial products company’s stock worth $7,476,000 after buying an additional 16,694 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Caterpillar by 167.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 310,641 shares of the industrial products company’s stock worth $84,805,000 after acquiring an additional 194,700 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in Caterpillar by 23.3% in the third quarter. Evergreen Capital Management LLC now owns 3,149 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 595 shares during the period. EHP Funds Inc. increased its stake in Caterpillar by 71.2% in the third quarter. EHP Funds Inc. now owns 3,800 shares of the industrial products company’s stock valued at $1,037,000 after purchasing an additional 1,580 shares in the last quarter. Finally, Legacy Advisors LLC boosted its position in shares of Caterpillar by 158.1% during the 3rd quarter. Legacy Advisors LLC now owns 4,822 shares of the industrial products company’s stock worth $1,316,000 after purchasing an additional 2,954 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

CAT stock traded up $2.85 during midday trading on Thursday, reaching $330.61. 1,352,181 shares of the company’s stock traded hands, compared to its average volume of 3,422,689. The firm has a market capitalization of $161.69 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.12. The company has a 50-day moving average price of $338.37 and a two-hundred day moving average price of $330.08. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16.07 billion. As a group, equities analysts anticipate that Caterpillar Inc. will post 21.8 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 annualized dividend and a yield of 1.71%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. Caterpillar’s payout ratio is currently 25.46%.

Caterpillar declared that its board has initiated a share repurchase program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a report on Thursday, April 18th. The Goldman Sachs Group increased their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. HSBC increased their price target on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Finally, Citigroup assumed coverage on Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Caterpillar currently has a consensus rating of “Hold” and an average target price of $329.63.

Insider Buying and Selling

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the transaction, the insider now directly owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lange Bob De sold 21,847 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the transaction, the insider now directly owns 71,115 shares of the company’s stock, valued at approximately $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

About Caterpillar

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.