B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lessened its stake in Caterpillar Inc. (NYSE:CAT) by 55.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,536 shares of the industrial products company’s stock after selling 10,728 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Caterpillar were worth $1,158,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. LSV Asset Management boosted its holdings in shares of Caterpillar by 93.2% in the 1st quarter. LSV Asset Management now owns 8,500 shares of the industrial products company’s stock valued at $1,252,000 after buying an additional 4,100 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new stake in shares of Caterpillar in the 1st quarter valued at approximately $459,000. ETRADE Capital Management LLC boosted its holdings in shares of Caterpillar by 57.2% in the 1st quarter. ETRADE Capital Management LLC now owns 6,606 shares of the industrial products company’s stock valued at $974,000 after buying an additional 2,403 shares during the last quarter. Hyman Charles D boosted its holdings in shares of Caterpillar by 0.9% in the 1st quarter. Hyman Charles D now owns 146,798 shares of the industrial products company’s stock valued at $21,635,000 after buying an additional 1,275 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in shares of Caterpillar by 0.3% in the 1st quarter. American International Group Inc. now owns 240,818 shares of the industrial products company’s stock valued at $35,492,000 after buying an additional 747 shares during the last quarter. 67.94% of the stock is owned by institutional investors.
CAT opened at $145.54 on Friday. Caterpillar Inc. has a fifty-two week low of $119.21 and a fifty-two week high of $173.24. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.37 and a quick ratio of 0.97. The firm has a market cap of $84.41 billion, a PE ratio of 21.22, a PEG ratio of 0.78 and a beta of 1.37.
Caterpillar (NYSE:CAT) last posted its earnings results on Monday, July 30th. The industrial products company reported $2.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.24. Caterpillar had a return on equity of 40.60% and a net margin of 6.12%. The company had revenue of $14.01 billion during the quarter, compared to the consensus estimate of $14.09 billion. During the same quarter last year, the firm earned $1.49 earnings per share. The company’s revenue was up 23.7% on a year-over-year basis. sell-side analysts predict that Caterpillar Inc. will post 11.65 EPS for the current year.
Several research firms have recently commented on CAT. Oppenheimer began coverage on Caterpillar in a report on Friday, September 7th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. CIBC assumed coverage on Caterpillar in a report on Friday, September 7th. They set a “market perform” rating for the company. Zacks Investment Research downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Robert W. Baird set a $155.00 price target on Caterpillar and gave the company a “hold” rating in a report on Tuesday, July 31st. Finally, William Blair reaffirmed a “hold” rating on shares of Caterpillar in a report on Monday, July 30th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $172.22.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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