Investment House LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 10.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,987 shares of the company’s stock after selling 1,300 shares during the period. Investment House LLC’s holdings in Caterpillar were worth $833,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Pitcairn Co. boosted its stake in shares of Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock valued at $250,000 after buying an additional 14 shares during the period. Fisher Asset Management LLC raised its stake in shares of Caterpillar by 0.5% in the first quarter. Fisher Asset Management LLC now owns 6,197 shares of the company’s stock valued at $491,000 after buying an additional 32 shares in the last quarter. St. Johns Investment Management Company LLC raised its stake in shares of Caterpillar by 0.5% in the second quarter. St. Johns Investment Management Company LLC now owns 7,643 shares of the company’s stock valued at $579,000 after buying an additional 36 shares in the last quarter. First Niagara Bank raised its stake in shares of Caterpillar by 1.4% in the second quarter. First Niagara Bank now owns 2,829 shares of the company’s stock valued at $214,000 after buying an additional 39 shares in the last quarter. Finally, Johanson Financial Advisors Inc. raised its stake in shares of Caterpillar by 1.0% in the second quarter. Johanson Financial Advisors Inc. now owns 4,760 shares of the company’s stock valued at $361,000 after buying an additional 48 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors and hedge funds.
Caterpillar Inc. (NYSE:CAT) traded up 0.04% during mid-day trading on Thursday, hitting $83.50. 3,925,245 shares of the stock traded hands. The stock’s 50 day moving average is $82.70 and its 200-day moving average is $77.56. Caterpillar Inc. has a 12 month low of $56.36 and a 12 month high of $84.73. The company has a market cap of $48.78 billion, a price-to-earnings ratio of 55.67 and a beta of 1.64.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.13. The firm earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The firm’s revenue for the quarter 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, equities research analysts anticipate that Caterpillar Inc. will post $3.50 EPS for the current year.
Several analysts have recently commented on CAT shares. Citigroup Inc. reiterated a “neutral” rating and set a $75.00 price objective on shares of Caterpillar in a report on Tuesday, May 31st. Vetr lowered Caterpillar from a “strong-buy” rating to a “buy” rating and set a $80.77 price objective for the company. in a report on Tuesday, May 31st. Jefferies Group reiterated a “hold” rating and set a $69.00 price objective on shares of Caterpillar in a report on Tuesday, June 21st. Zacks Investment Research lowered Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, June 30th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $87.00 price objective on shares of Caterpillar in a report on Wednesday, July 13th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $72.24.
In other news, Director Dennis A. Muilenburg purchased 1,930 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was 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 of the company’s stock, valued at approximately $790,924.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $82.73, for a total transaction of $235,035.93. Following the transaction, 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. Corporate insiders own 0.15% of the company’s stock.
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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