North Point Portfolio Managers Corp OH held its stake in Caterpillar Inc. (NYSE:CAT) during the second quarter, Holdings Channel reports. The firm owned 3,075 shares of the company’s stock at the end of the second quarter. North Point Portfolio Managers Corp OH’s holdings in Caterpillar were worth $233,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. 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 in the last quarter. Fisher Asset Management LLC increased its stake in Caterpillar by 0.5% in the first quarter. Fisher Asset Management LLC now owns 6,197 shares of the company’s stock worth $491,000 after buying an additional 32 shares in the last quarter. St. Johns Investment Management Company LLC increased its stake in Caterpillar by 0.5% in the second quarter. St. Johns Investment Management Company LLC now owns 7,643 shares of the company’s stock worth $579,000 after buying an additional 36 shares in the last quarter. First Niagara Bank increased its stake in Caterpillar by 1.4% in the second quarter. First Niagara Bank now owns 2,829 shares of the company’s stock worth $214,000 after buying an additional 39 shares in the last quarter. Finally, Johanson Financial Advisors Inc. increased its stake in Caterpillar by 1.0% in the second quarter. Johanson Financial Advisors Inc. now owns 4,760 shares of the company’s stock worth $361,000 after buying an additional 48 shares in the last quarter. 69.03% of the stock is owned by institutional investors and hedge funds.
Caterpillar Inc. (NYSE:CAT) traded up 1.02% on Thursday, reaching $87.47. The company’s stock had a trading volume of 10,616,376 shares. Caterpillar Inc. has a one year low of $56.36 and a one year high of $88.85. The stock has a 50-day moving average of $82.94 and a 200-day moving average of $77.99. The stock has a market cap of $51.10 billion, a P/E ratio of 58.31 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.13. The firm had revenue of $10.34 billion for 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%. The company’s quarterly revenue was down 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 earnings per share. On average, analysts predict that Caterpillar Inc. will post $3.50 EPS for the current fiscal year.
A number of research firms have weighed in on CAT. RBC Capital Markets set a $73.00 target price on shares of Caterpillar and gave the company a “hold” 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. Zacks Investment Research raised shares of Caterpillar from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $80.92 price objective for the company. in a research report on Wednesday, June 8th. Finally, TheStreet raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. Caterpillar presently has an average rating of “Hold” and a consensus target price of $72.62.
In other Caterpillar news, Director Dennis A. Muilenburg purchased 1,930 shares of the stock in a transaction dated Friday, July 29th. The shares were purchased at an average cost 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bradley M. Halverson sold 2,841 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the transaction, the insider now directly owns 20,232 shares in the company, valued at $1,673,793.36. The disclosure for this sale can be found here. 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.
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).
Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.