Bahl & Gaynor Inc. Has $2.39 Million Stock Holdings in Caterpillar Inc. $CAT

Bahl & Gaynor Inc. raised its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,167 shares of the industrial products company’s stock after purchasing an additional 389 shares during the period. Bahl & Gaynor Inc.’s holdings in Caterpillar were worth $2,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Caterpillar during the 2nd quarter worth $28,000. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar during the second quarter worth about $32,000. Harbor Asset Planning Inc. bought a new position in shares of Caterpillar in the second quarter worth about $34,000. Compass Financial Services Inc boosted its stake in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares in the last quarter. Finally, Maseco LLP acquired a new position in Caterpillar during the 2nd quarter worth approximately $45,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $550.74 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $518.69 and its two-hundred day simple moving average is $435.87. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $596.21. The stock has a market capitalization of $257.74 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period last year, the company posted $5.17 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, October 20th. Caterpillar’s dividend payout ratio is presently 31.01%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research note on Monday, November 17th. Citigroup raised their price objective on Caterpillar from $570.00 to $670.00 and gave the company a “buy” rating in a report on Friday, October 31st. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and upped their target price for the stock from $405.00 to $660.00 in a report on Wednesday, November 5th. Royal Bank Of Canada started coverage on Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target on the stock. Finally, Jefferies Financial Group raised their price objective on shares of Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $610.32.

Insider Activity at Caterpillar

In other news, insider Lange Bob De sold 14,638 shares of Caterpillar stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $562.36, for a total value of $8,231,825.68. Following the completion of the sale, the insider owned 80,209 shares in the company, valued at $45,106,333.24. The trade was a 15.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 10,707 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the transaction, the insider directly owned 8,649 shares in the company, valued at approximately $4,874,576.40. This represents a 55.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 86,229 shares of company stock worth $43,323,118. Corporate insiders own 0.33% of the company’s stock.

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.