HL Financial Services LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 7.4% during the second quarter, Holdings Channel reports. The institutional investor owned 37,731 shares of the company’s stock after buying an additional 2,585 shares during the period. HL Financial Services LLC’s holdings in Caterpillar were worth $2,860,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in CAT. Edgar Lomax Co. VA boosted its stake in Caterpillar by 30.6% in the first quarter. Edgar Lomax Co. VA now owns 535,350 shares of the company’s stock worth $40,976,000 after buying an additional 125,500 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Caterpillar by 4.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 330,980 shares of the company’s stock worth $25,333,000 after buying an additional 13,839 shares in the last quarter. Legal & General Group Plc boosted its stake in Caterpillar by 1.3% in the first quarter. Legal & General Group Plc now owns 2,698,633 shares of the company’s stock worth $206,565,000 after buying an additional 35,138 shares in the last quarter. National Pension Service boosted its stake in Caterpillar by 4.1% in the first quarter. National Pension Service now owns 322,866 shares of the company’s stock worth $24,712,000 after buying an additional 12,591 shares in the last quarter. Finally, Cullinan Associates Inc. boosted its stake in Caterpillar by 2.9% in the first quarter. Cullinan Associates Inc. now owns 24,530 shares of the company’s stock worth $1,878,000 after buying an additional 700 shares in the last quarter. 69.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Caterpillar Inc. (NYSE:CAT) traded down 1.27% during mid-day trading on Friday, reaching $82.44. 3,031,533 shares of the company’s stock were exchanged. Caterpillar Inc. has a 52 week low of $56.36 and a 52 week high of $84.73. The stock has a 50 day moving average price of $82.72 and a 200 day moving average price of $77.62. The stock has a market cap of $48.16 billion, a price-to-earnings ratio of 54.96 and a beta of 1.64.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. Caterpillar had a return on equity of 12.37% and a net margin of 2.64%. The business earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter last year, the business posted $1.27 earnings per share. The business’s revenue for the quarter was down 16.0% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post $3.50 EPS for the current year.
A number of equities research analysts recently issued reports on CAT shares. Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research note on Tuesday, August 30th. Vetr raised 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. Deutsche Bank AG started coverage on shares of Caterpillar in a research note on Monday, September 12th. They issued a “buy” rating and a $82.08 price target on the stock. Wells Fargo & Co. reissued a “market perform” rating and issued a $78.50 price target on shares of Caterpillar in a research note on Tuesday, August 23rd. Finally, Citigroup Inc. lifted their price target on shares of Caterpillar from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $72.24.
In other news, insider Bradley M. Halverson sold 2,841 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 20,232 shares in the company, valued at $1,673,793.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dennis A. Muilenburg purchased 1,930 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was purchased at an average price of $82.75 per share, with a total value of $159,707.50. Following the transaction, the director now owns 9,558 shares of the company’s stock, valued at $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.
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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