Seaward Management Limited Partnership cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 54,440 shares of the company’s stock after selling 1,391 shares during the period. Seaward Management Limited Partnership’s holdings in Caterpillar were worth $4,127,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. HL Financial Services LLC increased its stake in Caterpillar by 7.4% in the second quarter. HL Financial Services LLC now owns 37,731 shares of the company’s stock worth $2,860,000 after buying an additional 2,585 shares during the period. Pitcairn Co. increased its stake in Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock worth $250,000 after buying an additional 14 shares during the period. Princeton Capital Management Inc. increased its stake in Caterpillar by 6.9% in the second quarter. Princeton Capital Management Inc. now owns 20,963 shares of the company’s stock worth $1,589,000 after buying an additional 1,352 shares during the period. Court Place Advisors LLC increased its stake in Caterpillar by 5.5% in the second quarter. Court Place Advisors LLC now owns 7,446 shares of the company’s stock worth $564,000 after buying an additional 389 shares during the period. Finally, Douglas Lane & Associates LLC increased its stake in Caterpillar by 22.7% in the second quarter. Douglas Lane & Associates LLC now owns 11,510 shares of the company’s stock worth $873,000 after buying an additional 2,130 shares during the period. 69.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Caterpillar Inc. (NYSE:CAT) traded down 1.27% during trading on Friday, hitting $82.44. 3,031,533 shares of the stock were exchanged. The stock has a 50-day moving average of $82.72 and a 200 day moving average of $77.62. The stock has a market cap of $48.16 billion, a P/E ratio of 54.96 and a beta of 1.64. Caterpillar Inc. has a 12-month low of $56.36 and a 12-month high of $84.73.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.13. The business earned $10.34 billion during the quarter, compared to analyst estimates of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business’s revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.27 earnings per share. Equities analysts predict that Caterpillar Inc. will post $3.50 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on CAT. Credit Suisse Group AG reissued a “buy” rating on shares of Caterpillar in a research note on Thursday. Jefferies Group reaffirmed a “hold” rating and set a $72.00 target price on shares of Caterpillar in a research note on Thursday. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $85.19 target price on the stock. in a research note on Monday. Deutsche Bank AG assumed coverage on shares of Caterpillar in a research note on Monday, September 12th. They set a “buy” rating and a $82.08 target price on the stock. Finally, Axiom Securities reaffirmed a “sell” rating and set a $31.00 target price on shares of Caterpillar in a research note on Thursday, September 8th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.24.
In other Caterpillar news, Director Dennis A. Muilenburg acquired 1,930 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the director now directly owns 9,558 shares in the company, valued at approximately $790,924.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradley M. Halverson sold 2,841 shares of Caterpillar stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the transaction, 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 currently 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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