Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 174.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,776 shares of the industrial products company’s stock after buying an additional 28,445 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Caterpillar were worth $6,103,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in CAT. Paragon Capital Management LLC purchased a new position in shares of Caterpillar during the 1st quarter valued at $40,000. Legacy Advisors LLC purchased a new position in shares of Caterpillar during the 1st quarter valued at $47,000. Sound Income Strategies LLC lifted its position in shares of Caterpillar by 23.5% during the 2nd quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after buying an additional 72 shares during the last quarter. Exane Derivatives purchased a new position in shares of Caterpillar during the 2nd quarter valued at $54,000. Finally, JNBA Financial Advisors lifted its holdings in Caterpillar by 33.3% during the 2nd quarter. JNBA Financial Advisors now owns 400 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.86% of the company’s stock.
NYSE:CAT opened at $116.20 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a market cap of $66.70 billion, a PE ratio of 10.36, a P/E/G ratio of 0.85 and a beta of 1.52. The firm has a 50-day simple moving average of $131.78. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $159.37.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing the consensus estimate of $3.12 by ($0.29). The firm had revenue of $14.43 billion for the quarter, compared to the consensus estimate of $14.47 billion. Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. Caterpillar’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.97 earnings per share. As a group, equities analysts expect that Caterpillar Inc. will post 11.73 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on CAT. Atlantic Securities cut Caterpillar from a “neutral” rating to an “underweight” rating in a report on Friday, June 21st. UBS Group lowered their price target on Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Morgan Stanley lowered their price target on Caterpillar from $165.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Buckingham Research cut Caterpillar from a “buy” rating to a “neutral” rating and lowered their price target for the company from $162.00 to $140.00 in a report on Thursday, July 25th. Finally, Credit Suisse Group lowered their price target on Caterpillar from $172.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $141.89.
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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