Caterpillar, Inc. (CAT) Position Boosted by Parallel Advisors LLC
Parallel Advisors LLC boosted its position in Caterpillar, Inc. (NYSE:CAT) by 11.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,386 shares of the industrial products company’s stock after buying an additional 254 shares during the period. Parallel Advisors LLC’s holdings in Caterpillar were worth $272,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CAT. Baker Ellis Asset Management LLC acquired a new position in Caterpillar in the second quarter valued at $104,000. Harbour Capital Advisors LLC acquired a new position in Caterpillar in the first quarter valued at $107,000. First Personal Financial Services lifted its holdings in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after buying an additional 750 shares during the period. Harfst & Associates Inc. acquired a new position in Caterpillar in the first quarter valued at $111,000. Finally, Chicago Partners Investment Group LLC lifted its holdings in Caterpillar by 75.6% in the second quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock valued at $118,000 after buying an additional 496 shares during the period. Institutional investors and hedge funds own 69.24% of the company’s stock.
Shares of Caterpillar, Inc. (CAT) opened at 126.40 on Friday. The firm has a 50-day moving average of $120.21 and a 200-day moving average of $107.76. The company has a market capitalization of $74.70 billion, a P/E ratio of 706.15 and a beta of 1.26. Caterpillar, Inc. has a 12 month low of $80.33 and a 12 month high of $127.09. Caterpillar also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 21,220 call options on the stock. This is an increase of 166% compared to the typical volume of 7,980 call options.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. On average, equities analysts predict that Caterpillar, Inc. will post $5.25 earnings per share for the current year.
Several equities analysts recently issued reports on CAT shares. BMO Capital Markets restated a “buy” rating and issued a $130.00 target price on shares of Caterpillar in a report on Friday, September 8th. Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective on the stock. in a report on Monday, September 11th. Jefferies Group LLC reiterated a “hold” rating and set a $100.00 price objective on shares of Caterpillar in a report on Tuesday, August 29th. Credit Suisse Group AG reiterated a “hold” rating and set a $133.00 price objective on shares of Caterpillar in a report on Friday, September 22nd. Finally, Deutsche Bank AG lowered shares of Caterpillar from a “buy” rating to a “hold” rating and dropped their price objective for the company from $121.00 to $106.00 in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $114.03.
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In other news, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock valued at $22,979,332 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.
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