Chicago Equity Partners LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 46.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,640 shares of the industrial products company’s stock after selling 10,835 shares during the period. Chicago Equity Partners LLC’s holdings in Caterpillar were worth $1,723,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Weiss Asset Management LP bought a new stake in shares of Caterpillar during the 1st quarter worth about $200,000. Manning & Napier Group LLC raised its position in shares of Caterpillar by 30.4% during the 2nd quarter. Manning & Napier Group LLC now owns 152,404 shares of the industrial products company’s stock worth $20,770,000 after buying an additional 35,530 shares in the last quarter. Atalanta Sosnoff Capital LLC raised its position in shares of Caterpillar by 3.6% during the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock worth $475,000 after buying an additional 120 shares in the last quarter. Tufton Capital Management raised its position in shares of Caterpillar by 1.2% during the 1st quarter. Tufton Capital Management now owns 66,628 shares of the industrial products company’s stock worth $9,027,000 after buying an additional 787 shares in the last quarter. Finally, Krueger & Catalano Capital Partners LLC raised its position in shares of Caterpillar by 6.4% during the 2nd quarter. Krueger & Catalano Capital Partners LLC now owns 4,892 shares of the industrial products company’s stock worth $667,000 after buying an additional 293 shares in the last quarter. 65.07% of the stock is owned by hedge funds and other institutional investors.
CAT stock opened at $133.78 on Friday. Caterpillar Inc. has a 52-week low of $111.75 and a 52-week high of $159.37. The company’s 50 day simple moving average is $121.82 and its 200-day simple moving average is $130.42. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00. The firm has a market capitalization of $73.30 billion, a P/E ratio of 11.92, a P/E/G ratio of 0.93 and a beta of 1.54.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The firm had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts predict that Caterpillar Inc. will post 11.73 EPS for the current fiscal year.
A number of analysts recently commented on the stock. Buckingham Research downgraded shares of Caterpillar from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $162.00 to $140.00 in a report on Thursday, July 25th. UBS Group dropped their target price on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Atlantic Securities downgraded shares of Caterpillar from a “neutral” rating to an “underweight” rating in a report on Friday, June 21st. Stephens assumed coverage on shares of Caterpillar in a report on Wednesday, August 14th. They issued an “underweight” rating and a $100.00 target price on the stock. Finally, Wells Fargo & Co downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 target price on the stock. in a report on Wednesday. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $139.23.
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.
Further Reading: The limitations of an equal weight rating
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