Merriman Wealth Management LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,620 shares of the industrial products company’s stock after buying an additional 100 shares during the period. Merriman Wealth Management LLC’s holdings in Caterpillar were worth $221,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CAT. Geode Capital Management LLC grew its stake in Caterpillar by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock valued at $890,658,000 after purchasing an additional 321,277 shares in the last quarter. Legacy Advisors LLC acquired a new stake in Caterpillar during the 1st quarter valued at approximately $47,000. Physicians Financial Services Inc. grew its stake in Caterpillar by 11.9% during the 1st quarter. Physicians Financial Services Inc. now owns 17,855 shares of the industrial products company’s stock valued at $2,419,000 after purchasing an additional 1,895 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Caterpillar by 3.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 19,855 shares of the industrial products company’s stock valued at $2,690,000 after purchasing an additional 613 shares in the last quarter. Finally, JCIC Asset Management Inc. grew its stake in Caterpillar by 1.0% during the 1st quarter. JCIC Asset Management Inc. now owns 21,670 shares of the industrial products company’s stock valued at $2,936,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 66.86% of the company’s stock.
CAT has been the subject of a number of recent analyst reports. Atlantic Securities lowered Caterpillar from a “neutral” rating to an “underweight” rating in a research note on Friday, June 21st. UBS Group reduced their target price on Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Robert W. Baird reduced their target price on Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Standpoint Research raised Caterpillar from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Finally, Macquarie set a $115.00 target price on Caterpillar and gave the stock a “sell” rating in a report on Tuesday, June 11th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $141.89.
Shares of NYSE CAT traded down $3.40 during mid-day trading on Wednesday, hitting $115.61. The company had a trading volume of 317,799 shares, compared to its average volume of 4,408,910. The firm has a market cap of $66.70 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52. Caterpillar Inc. has a 12 month low of $112.06 and a 12 month high of $159.37. 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 firm’s 50 day simple moving average is $131.78.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.12 by ($0.29). The company had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business posted $2.97 EPS. Equities analysts anticipate that Caterpillar Inc. will post 11.73 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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