Advisory Services Network LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 9,304 shares of the company’s stock after buying an additional 624 shares during the period. Advisory Services Network LLC’s holdings in Caterpillar were worth $705,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CAT. Pitcairn Co. raised 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. St. Johns Investment Management Company LLC raised 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 raised 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. Johanson Financial Advisors Inc. raised 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. Finally, Iowa State Bank raised its stake in Caterpillar by 1.8% in the second quarter. Iowa State Bank now owns 2,770 shares of the company’s stock worth $210,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 69.03% of the company’s stock.
Shares of Caterpillar Inc. (NYSE:CAT) traded up 2.18% during trading on Wednesday, reaching $89.42. 5,189,453 shares of the company were exchanged. The company has a market capitalization of $52.24 billion, a price-to-earnings ratio of 59.61 and a beta of 1.54. Caterpillar Inc. has a 1-year low of $56.36 and a 1-year high of $89.87. The stock’s 50 day moving average is $83.49 and its 200 day moving average is $78.43.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business earned $10.34 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same period in the prior year, the company earned $1.27 earnings per share. The firm’s revenue was down 16.0% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post $3.50 earnings per share for the current year.
A number of equities research analysts recently weighed in on the stock. Citigroup Inc. upped their target price on shares of Caterpillar from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Jefferies Group restated a “hold” rating on shares of Caterpillar in a report on Wednesday, August 3rd. Axiom Securities restated a “sell” rating on shares of Caterpillar in a report on Tuesday, August 30th. Vetr upgraded shares of Caterpillar from a “strong sell” rating to a “sell” rating and set a $79.15 target price on the stock in a report on Wednesday, July 27th. Finally, Credit Suisse Group AG restated a “buy” rating and issued a $87.00 target price on shares of Caterpillar in a report on Wednesday, July 13th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. Caterpillar currently has an average rating of “Hold” and an average price target of $73.07.
In other news, Director Dennis A. Muilenburg purchased 1,930 shares of the company’s stock in a transaction on Friday, July 29th. The stock was acquired at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the transaction, the director now directly owns 9,558 shares in the company, valued at approximately $790,924.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley M. Halverson sold 2,841 shares of the company’s stock in a transaction that occurred 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 owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The disclosure for this sale can be found here. Company 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.
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