Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 16.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,796 shares of the company’s stock after buying an additional 800 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Caterpillar were worth $439,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in CAT. Kelly Lawrence W & Associates Inc. CA increased its position in shares of 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 during the period. WealthTrust Arizona LLC increased its position in shares of 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 during the period. CWM LLC increased its position in shares of 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 during the period. Telemus Capital LLC acquired a new position in shares of Caterpillar during the second quarter valued at approximately $202,000. Finally, Cypress Capital Group acquired a new position in shares of Caterpillar during the first quarter valued at approximately $207,000. 69.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Caterpillar Inc. (NYSE:CAT) traded down 0.55% during trading on Monday, reaching $88.28. The company’s stock had a trading volume of 4,294,645 shares. The company has a 50 day moving average price of $83.25 and a 200 day moving average price of $78.26. The firm has a market capitalization of $51.58 billion, a P/E ratio of 58.85 and a beta of 1.54. Caterpillar Inc. has a 52 week low of $56.36 and a 52 week high of $89.19.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.13. The company earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. Caterpillar’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 EPS. On average, equities research analysts expect that Caterpillar Inc. will post $3.50 EPS for the current fiscal year.
Several brokerages have commented on CAT. Citigroup Inc. upped their price objective on Caterpillar from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Jefferies Group reaffirmed a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 3rd. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research report on Tuesday, August 30th. Vetr raised Caterpillar from a “strong sell” rating to a “sell” rating and set a $79.15 price objective on the stock in a research report on Wednesday, July 27th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Caterpillar in a research report on Wednesday, July 13th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $73.07.
In other news, Director Dennis A. Muilenburg bought 1,930 shares of Caterpillar stock in a transaction dated Friday, July 29th. The stock was acquired at an average cost of $82.75 per share, with a total value of $159,707.50. Following the acquisition, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bradley M. Halverson sold 2,841 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were 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 $1,673,793.36. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
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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