Cozad Asset Management Inc. raised its position in Caterpillar Inc. (NYSE:CAT) by 21.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,728 shares of the industrial products company’s stock after acquiring an additional 3,548 shares during the quarter. Cozad Asset Management Inc.’s holdings in Caterpillar were worth $2,689,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC increased its position in shares of Caterpillar by 3,600.0% in the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 180 shares during the period. Kavar Capital Partners LLC purchased a new position in shares of Caterpillar in the second quarter valued at about $46,000. Sound Income Strategies LLC increased its position in shares of Caterpillar by 23.5% in the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 72 shares during the period. Exane Derivatives purchased a new position in shares of Caterpillar in the second quarter valued at about $54,000. Finally, JNBA Financial Advisors increased its position in shares of Caterpillar by 33.3% in the second quarter. JNBA Financial Advisors now owns 400 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 65.07% of the company’s stock.
NYSE:CAT traded down $1.13 during mid-day trading on Thursday, hitting $131.96. 1,552,287 shares of the company’s stock were exchanged, compared to its average volume of 4,383,850. Caterpillar Inc. has a one year low of $111.75 and a one 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. The business has a fifty day moving average price of $121.79 and a 200 day moving average price of $130.45. The company has a market cap of $74.87 billion, a PE ratio of 11.76, a P/E/G ratio of 0.90 and a beta of 1.54.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing the consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The business had revenue of $14.43 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the previous year, the firm earned $2.97 EPS. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 11.74 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. Bank of America reaffirmed a “buy” rating and set a $145.00 target price (down previously from $150.00) on shares of Caterpillar in a research note on Monday. ValuEngine lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed a “hold” rating on shares of Caterpillar in a research note on Wednesday, August 14th. Buckingham Research lowered shares of Caterpillar from a “buy” rating to a “neutral” rating and cut their target price for the company from $162.00 to $140.00 in a research note on Thursday, July 25th. Finally, Stephens assumed coverage on shares of Caterpillar in a research note on Wednesday, August 14th. They set an “underweight” rating and a $100.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $139.23.
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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