CX Institutional lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,920 shares of the industrial products company's stock after acquiring an additional 2,002 shares during the quarter. CX Institutional's holdings in Caterpillar were worth $12,780,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC acquired a new stake in Caterpillar during the second quarter valued at approximately $32,000. Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after acquiring an additional 31 shares during the period. Mattson Financial Services LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $39,000. Curat Global LLC bought a new stake in shares of Caterpillar during the first quarter valued at about $33,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 70.98% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Oppenheimer cut their price objective on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Robert W. Baird increased their price objective on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $464.33.
Check Out Our Latest Analysis on Caterpillar
Caterpillar Trading Down 1.3%
Shares of NYSE CAT opened at $463.76 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $485.34. The firm has a market capitalization of $217.26 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.86 and a beta of 1.41. The company's 50 day simple moving average is $429.93 and its 200 day simple moving average is $372.59.
Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period in the previous year, the business posted $5.99 EPS. The business's quarterly revenue was down .7% compared to the same quarter last year. On average, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.
Insider Buying and Selling
In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman directly owned 482,505 shares in the company, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is owned by insiders.
About Caterpillar
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Free Report)
Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.
Further Reading
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 - Free Report).
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