Wright Investors Service Inc. Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Wright Investors Service Inc. lessened its position in Caterpillar Inc. (NYSE:CAT) by 16.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,679 shares of the industrial products company’s stock after selling 1,908 shares during the quarter. Wright Investors Service Inc.’s holdings in Caterpillar were worth $1,319,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Paragon Capital Management LLC purchased a new stake in shares of Caterpillar in the 1st quarter valued at $40,000. Kavar Capital Partners LLC purchased a new stake in shares of Caterpillar in the 2nd quarter valued at $46,000. Sound Income Strategies LLC raised its holdings in shares of Caterpillar by 23.5% in the 2nd quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after buying an additional 72 shares during the period. Exane Derivatives purchased a new stake in shares of Caterpillar in the 2nd quarter valued at $54,000. Finally, JNBA Financial Advisors raised its holdings in shares of Caterpillar by 33.3% in the 2nd quarter. JNBA Financial Advisors now owns 400 shares of the industrial products company’s stock valued at $55,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 66.86% of the company’s stock.

Several research analysts recently commented on the company. Goldman Sachs Group cut Caterpillar from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $156.00 to $130.00 in a research note on Wednesday, August 7th. Wells Fargo & Co lowered their target price on Caterpillar from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Credit Suisse Group lowered their target price on Caterpillar from $172.00 to $164.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada reissued a “hold” rating on shares of Caterpillar in a research note on Wednesday. Finally, Morgan Stanley lowered their target price on Caterpillar from $165.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $139.90.

Shares of NYSE:CAT traded down $0.40 on Thursday, hitting $114.81. 2,355,083 shares of the company’s stock were exchanged, compared to its average volume of 4,664,563. The stock’s 50-day moving average is $131.42. The stock has a market capitalization of $64.63 billion, a P/E ratio of 10.23, a PEG ratio of 0.83 and a beta of 1.52. Caterpillar Inc. has a 1-year low of $112.06 and a 1-year high of $159.37. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.12 by ($0.29). The business had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.97 earnings per share. Equities analysts predict that Caterpillar Inc. will post 11.73 EPS for the current fiscal 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.

Further Reading: After-Hours Trading

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).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.