Delta Asset Management LLC TN Acquires 1,778 Shares of Caterpillar Inc. (NYSE:CAT)

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Delta Asset Management LLC TN lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 64,129 shares of the industrial products company’s stock after purchasing an additional 1,778 shares during the period. Caterpillar comprises about 1.2% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 23rd biggest position. Delta Asset Management LLC TN’s holdings in Caterpillar were worth $8,740,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CAT. Sanders Capital LLC grew its holdings in shares of Caterpillar by 60.7% during the 1st quarter. Sanders Capital LLC now owns 4,747,400 shares of the industrial products company’s stock valued at $724,333,000 after purchasing an additional 1,792,900 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Caterpillar by 13,546.6% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 517,205 shares of the industrial products company’s stock valued at $51,720,000 after purchasing an additional 513,415 shares during the last quarter. LSV Asset Management grew its holdings in shares of Caterpillar by 65.5% during the 1st quarter. LSV Asset Management now owns 1,027,926 shares of the industrial products company’s stock valued at $139,273,000 after purchasing an additional 407,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Caterpillar by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock valued at $890,658,000 after purchasing an additional 321,277 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Caterpillar by 12.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,794,952 shares of the industrial products company’s stock valued at $378,688,000 after purchasing an additional 314,442 shares during the last quarter. 65.80% of the stock is currently owned by institutional investors.

CAT has been the topic of several recent research reports. Credit Suisse Group reduced their target price on shares of Caterpillar from $172.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Atlantic Securities lowered shares of Caterpillar from a “neutral” rating to an “underweight” rating in a report on Friday, June 21st. ValuEngine lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Macquarie set a $115.00 price target on shares of Caterpillar and gave the stock a “sell” rating in a report on Tuesday, June 11th. Finally, Wells Fargo & Co cut their price target on shares of Caterpillar from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Caterpillar presently has an average rating of “Hold” and a consensus price target of $144.23.

Shares of NYSE CAT opened at $122.08 on Wednesday. Caterpillar Inc. has a 1 year low of $112.06 and a 1 year high of $159.37. The stock has a market cap of $71.22 billion, a PE ratio of 10.88, a P/E/G ratio of 0.88 and a beta of 1.52. The company’s 50-day simple moving average is $133.65. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The business had revenue of $14.43 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the business earned $2.97 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, research analysts anticipate that Caterpillar Inc. will post 11.73 earnings per share for the current year.

Caterpillar Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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