MAI Capital Management Acquires 46 Shares of Caterpillar, Inc. (CAT)
MAI Capital Management lifted its holdings in Caterpillar, Inc. (NYSE:CAT) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,231 shares of the industrial products company’s stock after buying an additional 46 shares during the quarter. MAI Capital Management’s holdings in Caterpillar were worth $240,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in Caterpillar by 11.4% during the 1st quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock valued at $1,628,992,000 after acquiring an additional 1,798,312 shares during the period. Renaissance Technologies LLC bought a new stake in Caterpillar during the first quarter worth about $143,490,000. Morgan Stanley boosted 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 worth $964,579,000 after acquiring an additional 1,365,856 shares in the last quarter. Vanguard Group Inc. boosted its stake in Caterpillar by 3.6% during the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after acquiring an additional 1,342,984 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Caterpillar during the second quarter worth about $117,223,000. 69.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at 125.51 on Wednesday. The stock has a 50 day moving average price of $119.48 and a 200 day moving average price of $107.49. Caterpillar, Inc. has a 1-year low of $80.33 and a 1-year high of $125.55. The stock has a market capitalization of $74.17 billion, a price-to-earnings ratio of 701.17 and a beta of 1.26.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.23. The firm had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. Equities research analysts anticipate that Caterpillar, Inc. will post $5.25 EPS for the current year.
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Several equities analysts have recently issued reports on CAT shares. BMO Capital Markets lifted their target price on shares of Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, September 14th. Credit Suisse Group restated a “buy” rating and issued a $123.00 price target on shares of Caterpillar in a research note on Thursday, June 22nd. Zacks Investment Research downgraded Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Tuesday, June 20th. Finally, Vetr lowered Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 price objective for the company. in a research report on Monday, September 11th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $114.03.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,471 shares of company stock worth $22,979,332. 0.14% of the stock is owned by corporate insiders.
Caterpillar Company Profile
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