Whittier Trust Co. of Nevada Inc. cut its stake in Caterpillar Inc. (NYSE:CAT) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,215 shares of the company’s stock after selling 622 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Caterpillar were worth $3,125,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Virginia Retirement System purchased a new stake in Caterpillar during the first quarter valued at $1,320,000. Hilltop Park Associates LLC purchased a new stake in Caterpillar during the first quarter valued at $1,913,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in Caterpillar by 8,775.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 571,223 shares of the company’s stock valued at $43,721,000 after buying an additional 564,787 shares during the period. Ngam Advisors L.P. raised its stake in Caterpillar by 10.8% in the first quarter. Ngam Advisors L.P. now owns 129,561 shares of the company’s stock valued at $9,917,000 after buying an additional 12,594 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in Caterpillar by 34.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,914,299 shares of the company’s stock valued at $146,520,000 after buying an additional 495,009 shares during the period. Institutional investors own 69.03% of the company’s stock.
Shares of Caterpillar Inc. (NYSE:CAT) traded down 0.107% during midday trading on Thursday, hitting $89.324. 3,084,112 shares of the company traded hands. The stock has a market capitalization of $52.19 billion, a PE ratio of 59.549 and a beta of 1.54. Caterpillar Inc. has a 52 week low of $56.36 and a 52 week high of $89.87. The stock has a 50 day moving average of $83.49 and a 200-day moving average of $78.43.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.13. The business had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The company’s revenue was down 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share. Equities analysts forecast that Caterpillar Inc. will post $3.50 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on CAT shares. Axiom Securities reissued a “sell” rating on shares of Caterpillar in a research report on Tuesday, August 30th. Zacks Investment Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday. Citigroup Inc. set a $82.00 price objective on shares of Caterpillar and gave the stock a “hold” rating in a research report on Tuesday, August 16th. Jefferies Group reissued a “hold” rating on shares of Caterpillar in a research report on Wednesday, August 3rd. Finally, Credit Suisse Group AG set a $90.00 price objective on shares of Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.19.
In other Caterpillar news, insider Bradley M. Halverson sold 2,841 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the sale, the insider now directly owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dennis A. Muilenburg acquired 1,930 shares of the company’s stock in a transaction on Friday, July 29th. The shares were acquired at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the acquisition, 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. Company 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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