Burke & Herbert Bank & Trust Co. increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 28.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,268 shares of the company’s stock after buying an additional 956 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Caterpillar were worth $323,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Kelly Lawrence W & Associates Inc. CA increased its position in Caterpillar by 15.4% in the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 1,500 shares of the company’s stock valued at $115,000 after buying an additional 200 shares in the last quarter. WealthTrust Arizona LLC increased its position in Caterpillar by 82.4% in the second quarter. WealthTrust Arizona LLC now owns 2,451 shares of the company’s stock valued at $186,000 after buying an additional 1,107 shares in the last quarter. CWM LLC increased its position in Caterpillar by 197.2% in the second quarter. CWM LLC now owns 2,574 shares of the company’s stock valued at $195,000 after buying an additional 1,708 shares in the last quarter. Telemus Capital LLC bought a new position in Caterpillar during the second quarter valued at approximately $202,000. Finally, Cypress Capital Group bought a new position in Caterpillar during the first quarter valued at approximately $207,000. Hedge funds and other institutional investors own 69.03% of the company’s stock.
Shares of Caterpillar Inc. (NYSE:CAT) traded up 2.18% during mid-day trading on Wednesday, hitting $89.42. 5,189,453 shares of the stock traded hands. Caterpillar Inc. has a 52 week low of $56.36 and a 52 week high of $89.87. The firm’s 50-day moving average is $83.49 and its 200-day moving average is $78.43. The stock has a market cap of $52.24 billion, a price-to-earnings ratio of 59.61 and a beta of 1.54.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The company earned $10.34 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. Caterpillar’s revenue was down 16.0% on a year-over-year basis. On average, analysts forecast that Caterpillar Inc. will post $3.50 earnings per share for the current year.
CAT has been the topic of several research reports. TheStreet upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Credit Suisse Group AG restated a “buy” rating and issued a $87.00 price target on shares of Caterpillar in a research note on Wednesday, July 13th. Deutsche Bank AG started coverage on shares of Caterpillar in a research note on Tuesday, September 6th. They issued a “buy” rating and a $72.56 price target on the stock. Vetr upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $85.19 price target on the stock in a research note on Tuesday, September 13th. Finally, Zacks Investment Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. Caterpillar has a consensus rating of “Hold” and an average target price of $73.07.
In other news, Director Dennis A. Muilenburg bought 1,930 shares of the business’s stock in a transaction on Friday, July 29th. The stock was acquired at an average price of $82.75 per share, with a total value of $159,707.50. Following the completion of the purchase, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley M. Halverson sold 2,841 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total value of $235,035.93. Following the completion of the sale, the insider now directly owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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