Weybosset Research & Management LLC trimmed its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 9.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 950 shares of the industrial products company’s stock after selling 100 shares during the quarter. Weybosset Research & Management LLC’s holdings in Caterpillar were worth $234,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. BCK Partners Inc. bought a new position in shares of Caterpillar during the 1st quarter worth approximately $2,580,000. Sei Investments Co. lifted its holdings in Caterpillar by 17.3% during the 1st quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock worth $14,634,000 after purchasing an additional 9,695 shares during the last quarter. Dakota Wealth Management acquired a new stake in Caterpillar during the 1st quarter worth approximately $405,000. Mather Group LLC. lifted its holdings in Caterpillar by 6.8% during the 1st quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 165 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Caterpillar by 4.4% during the 1st quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after purchasing an additional 2,076 shares during the last quarter. 69.20% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on CAT shares. The Goldman Sachs Group lifted their price objective on Caterpillar from $274.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Stifel Nicolaus lifted their price target on Caterpillar from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Robert W. Baird lifted their price target on Caterpillar from $183.00 to $234.00 and gave the company an “underperform” rating in a research note on Wednesday, August 2nd. DA Davidson started coverage on Caterpillar in a research note on Wednesday, June 21st. They issued a “neutral” rating and a $263.00 price target on the stock. Finally, Barclays lifted their price target on Caterpillar from $225.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Caterpillar has a consensus rating of “Hold” and an average target price of $267.00.
Insider Buying and Selling
In related news, insider Lange Bob De sold 20,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total value of $5,500,000.00. Following the sale, the insider now directly owns 53,671 shares of the company’s stock, valued at approximately $14,759,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joseph E. Creed sold 7,286 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $285.25, for a total transaction of $2,078,331.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lange Bob De sold 20,000 shares of Caterpillar stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total transaction of $5,500,000.00. Following the transaction, the insider now directly owns 53,671 shares in the company, valued at $14,759,525. The disclosure for this sale can be found here. Insiders have sold 54,918 shares of company stock valued at $15,299,870 in the last ninety days. 0.33% of the stock is owned by company insiders.
Caterpillar Trading Up 0.6 %
Shares of CAT stock opened at $280.88 on Tuesday. The company has a market cap of $143.28 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.17 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.33 and a quick ratio of 0.83. The firm has a fifty day moving average price of $273.63 and a 200-day moving average price of $242.50. Caterpillar Inc. has a 1 year low of $160.60 and a 1 year high of $293.88.
Caterpillar (NYSE:CAT – Get Free Report) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $5.55 earnings per share for the quarter, topping the consensus estimate of $4.57 by $0.98. The company had revenue of $17.30 billion during the quarter, compared to the consensus estimate of $16.46 billion. Caterpillar had a net margin of 12.91% and a return on equity of 55.93%. Caterpillar’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.18 EPS. As a group, equities analysts predict that Caterpillar Inc. will post 19.82 earnings per share for the current year.
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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