Bank Julius Baer & Co. Ltd Zurich lessened its holdings in Caterpillar Inc. (NYSE:CAT – Free Report) by 1.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,679 shares of the industrial products company’s stock after selling 100 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Caterpillar were worth $2,136,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. West Financial Advisors LLC purchased a new stake in Caterpillar in the 2nd quarter worth $25,000. Atlas Capital Advisors LLC increased its stake in Caterpillar by 272.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Caterpillar by 730.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after buying an additional 95 shares in the last quarter. Horan Securities Inc. increased its stake in Caterpillar by 678.6% in the 1st quarter. Horan Securities Inc. now owns 109 shares of the industrial products company’s stock worth $25,000 after buying an additional 95 shares in the last quarter. Finally, TFC Financial Management Inc. increased its stake in Caterpillar by 470.8% in the 1st quarter. TFC Financial Management Inc. now owns 137 shares of the industrial products company’s stock worth $31,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CAT. Stifel Nicolaus raised their price objective on Caterpillar from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. DA Davidson began coverage on Caterpillar in a research report on Wednesday, June 21st. They set a “neutral” rating and a $263.00 price objective for the company. Bank of America raised their price objective on Caterpillar from $283.00 to $323.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Robert W. Baird raised their price objective on Caterpillar from $183.00 to $234.00 and gave the company an “underperform” rating in a research report on Wednesday, August 2nd. Finally, Credit Suisse Group raised their price objective on Caterpillar from $279.00 to $334.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $267.00.
Caterpillar Stock Up 2.0 %
Shares of NYSE CAT opened at $266.04 on Monday. 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 company has a market cap of $135.71 billion, a P/E ratio of 16.56, a PEG ratio of 1.12 and a beta of 1.13. Caterpillar Inc. has a 1 year low of $172.71 and a 1 year high of $293.88. The firm has a 50-day simple moving average of $277.27 and a two-hundred day simple moving average of $246.46.
Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $5.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.57 by $0.98. The business 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%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.18 earnings per share. Research analysts anticipate that Caterpillar Inc. will post 19.87 earnings per share for the current year.
Insider Transactions at Caterpillar
In other news, insider Cheryl H. Johnson sold 6,415 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $260.00, for a total transaction of $1,667,900.00. Following the transaction, the insider now directly owns 16,362 shares of the company’s stock, valued at $4,254,120. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Cheryl H. Johnson sold 6,415 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $260.00, for a total transaction of $1,667,900.00. Following the transaction, the insider now directly owns 16,362 shares of the company’s stock, valued at $4,254,120. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 2,923 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total transaction of $815,517.00. Following the transaction, the insider now directly owns 16,182 shares in the company, valued at $4,514,778. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,918 shares of company stock valued at $15,299,870. 0.33% of the stock is currently owned by company insiders.
About Caterpillar
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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