Caterpillar, Inc. (CAT) Position Cut by Rhumbline Advisers
Rhumbline Advisers cut its stake in Caterpillar, Inc. (NYSE:CAT) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 872,332 shares of the industrial products company’s stock after selling 35,626 shares during the period. Rhumbline Advisers owned 0.15% of Caterpillar worth $93,741,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock valued at $3,603,500,000 after acquiring an additional 1,342,984 shares in the last quarter. FMR LLC increased its stake in Caterpillar by 11.4% during the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock valued at $1,628,992,000 after purchasing an additional 1,798,312 shares during the last quarter. Morgan Stanley increased its stake in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares during the last quarter. Primecap Management Co. CA increased its stake in Caterpillar by 16.9% during the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock valued at $673,351,000 after purchasing an additional 1,047,922 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Caterpillar by 8.1% during the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock valued at $516,423,000 after purchasing an additional 419,191 shares during the last quarter. 69.24% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on CAT shares. BidaskClub upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Seaport Global Securities started coverage on shares of Caterpillar in a research note on Wednesday, September 6th. They set a “neutral” rating and a $120.00 target price for the company. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a research note on Tuesday, June 6th. Wells Fargo & Company reiterated an “outperform” rating on shares of Caterpillar in a research note on Wednesday, July 26th. Finally, Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 target price for the company. in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $114.03.
Caterpillar, Inc. (NYSE:CAT) opened at 124.43 on Friday. The firm has a market cap of $73.53 billion, a P/E ratio of 695.14 and a beta of 1.24. Caterpillar, Inc. has a 12-month low of $80.33 and a 12-month high of $125.42. The company has a 50-day moving average price of $116.33 and a 200-day moving average price of $105.20.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. On average, analysts predict that Caterpillar, Inc. will post $5.25 earnings per share for the current year.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the transaction, the insider now directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock worth $22,979,332 in the last ninety days. Insiders own 0.15% of the company’s stock.
Caterpillar Company Profile
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