Traynor Capital Management Inc. Increases Stake in Caterpillar Inc. (NYSE:CAT)

by · The Cerbat Gem

Traynor Capital Management Inc. increased its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 4.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,271 shares of the industrial products company’s stock after purchasing an additional 482 shares during the period. Traynor Capital Management Inc.’s holdings in Caterpillar were worth $4,408,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Caterpillar in the 3rd quarter worth about $440,000. Smith Group Asset Management LLC purchased a new position in Caterpillar during the 3rd quarter valued at about $235,000. Worth Financial Advisory Group LLC grew its holdings in Caterpillar by 1.6% during the 3rd quarter. Worth Financial Advisory Group LLC now owns 2,321 shares of the industrial products company’s stock valued at $908,000 after buying an additional 36 shares in the last quarter. Orrstown Financial Services Inc. grew its holdings in Caterpillar by 88.6% during the 3rd quarter. Orrstown Financial Services Inc. now owns 2,848 shares of the industrial products company’s stock valued at $1,114,000 after buying an additional 1,338 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Caterpillar by 2.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 165,047 shares of the industrial products company’s stock valued at $64,553,000 after buying an additional 3,922 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $390.61 on Tuesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. Caterpillar Inc. has a fifty-two week low of $223.76 and a fifty-two week high of $403.60. The stock has a 50 day moving average price of $369.49 and a two-hundred day moving average price of $350.79. The company has a market capitalization of $191.03 billion, a P/E ratio of 17.63, a PEG ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the previous year, the company posted $5.55 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.44%. Caterpillar’s payout ratio is currently 25.46%.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of recent analyst reports. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays lifted their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. UBS Group lifted their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $355.50.

Read Our Latest Research Report on Caterpillar

Caterpillar Profile

(Free Report)

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.

Featured Stories

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 – Free Report).