Lincoln National Corp Increases Holdings in Caterpillar, Inc. (CAT)
Lincoln National Corp raised its position in shares of Caterpillar, Inc. (NYSE:CAT) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,667 shares of the industrial products company’s stock after buying an additional 196 shares during the quarter. Lincoln National Corp’s holdings in Caterpillar were worth $824,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. NGAM Advisors L.P. grew its position in shares of Caterpillar by 2.9% in the 2nd quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock worth $8,742,000 after acquiring an additional 2,286 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Caterpillar by 527.0% in the 1st quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock valued at $18,208,000 after acquiring an additional 164,989 shares during the last quarter. Bancorpsouth Inc. increased its holdings in shares of Caterpillar by 1.2% in the 1st quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock valued at $537,000 after acquiring an additional 69 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Caterpillar in the 1st quarter valued at approximately $46,917,000. Finally, State of Tennessee Treasury Department increased its holdings in shares of Caterpillar by 58.4% in the 1st quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock valued at $26,746,000 after acquiring an additional 106,270 shares during the last quarter. 69.24% of the stock is currently owned by institutional investors.
In other news, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,471 shares of company stock worth $22,979,332. Company insiders own 0.14% of the company’s stock.
Several equities analysts recently issued reports on CAT shares. BMO Capital Markets restated a “buy” rating and set a $130.00 price objective on shares of Caterpillar in a research note on Friday, September 8th. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective for the company. in a report on Monday, September 11th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a report on Tuesday, August 29th. Credit Suisse Group reiterated a “hold” rating and set a $133.00 target price on shares of Caterpillar in a research note on Friday, September 22nd. Finally, Deutsche Bank AG lowered shares of Caterpillar from a “buy” rating to a “hold” rating and lowered their target price for the company from $121.00 to $106.00 in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $114.03.
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Caterpillar, Inc. (NYSE:CAT) opened at 124.72 on Tuesday. The company’s 50-day moving average price is $119.14 and its 200-day moving average price is $107.25. The firm has a market capitalization of $73.71 billion, a price-to-earnings ratio of 696.76 and a beta of 1.25. Caterpillar, Inc. has a 12-month low of $80.33 and a 12-month high of $125.55.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business posted $1.09 earnings per share. Caterpillar’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts expect that Caterpillar, Inc. will post $5.25 EPS for the current fiscal year.
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