Capital Advisors Inc. OK decreased its position in Caterpillar Inc. (NYSE:CAT) by 97.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,842 shares of the industrial products company’s stock after selling 173,558 shares during the period. Capital Advisors Inc. OK’s holdings in Caterpillar were worth $516,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAT. Capital International Investors lifted its holdings in Caterpillar by 77.1% during the 1st quarter. Capital International Investors now owns 4,955,847 shares of the industrial products company’s stock valued at $575,076,000 after purchasing an additional 2,157,830 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Caterpillar by 60.1% during the 2nd quarter. Macquarie Group Ltd. now owns 5,295,844 shares of the industrial products company’s stock valued at $669,814,000 after buying an additional 1,987,177 shares in the last quarter. BlackRock Inc. grew its holdings in Caterpillar by 3.7% during the 2nd quarter. BlackRock Inc. now owns 35,907,749 shares of the industrial products company’s stock valued at $4,542,330,000 after buying an additional 1,293,131 shares in the last quarter. Invesco Ltd. grew its holdings in Caterpillar by 45.3% during the 1st quarter. Invesco Ltd. now owns 3,435,542 shares of the industrial products company’s stock valued at $398,662,000 after buying an additional 1,071,048 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Caterpillar by 17.9% during the first quarter. Wellington Management Group LLP now owns 6,735,624 shares of the industrial products company’s stock worth $781,602,000 after purchasing an additional 1,023,938 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.
In related news, insider Lange Bob De sold 1,575 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $147.00, for a total value of $231,525.00. Following the completion of the sale, the insider now owns 30,798 shares in the company, valued at approximately $4,527,306. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.
Caterpillar (NYSE:CAT) last issued its earnings results on Friday, July 31st. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.37. Caterpillar had a net margin of 8.90% and a return on equity of 30.52%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the prior year, the business posted $2.83 EPS. The company’s revenue for the quarter was down 30.7% on a year-over-year basis. Analysts anticipate that Caterpillar Inc. will post 5.18 EPS for the current year.
Several analysts have weighed in on CAT shares. Deutsche Bank upgraded Caterpillar from a “hold” rating to a “buy” rating and boosted their price objective for the company from $126.50 to $166.00 in a research report on Tuesday, June 30th. BMO Capital Markets cut Caterpillar from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a research report on Friday, June 12th. Cfra raised Caterpillar to a “buy” rating in a research report on Thursday, July 16th. Morgan Stanley increased their price objective on Caterpillar from $101.00 to $111.00 and gave the company an “underweight” rating in a research report on Wednesday, September 9th. Finally, Oppenheimer initiated coverage on Caterpillar in a research report on Sunday, August 2nd. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. Caterpillar currently has an average rating of “Hold” and a consensus target price of $139.11.
Caterpillar Company 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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