Hammer Asset Management LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,623 shares of the industrial products company’s stock after selling 207 shares during the quarter. Caterpillar makes up about 2.0% of Hammer Asset Management LLC’s portfolio, making the stock its 23rd biggest position. Hammer Asset Management LLC’s holdings in Caterpillar were worth $2,402,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in CAT. Sanders Capital LLC grew its stake in Caterpillar by 60.7% in the first quarter. Sanders Capital LLC now owns 4,747,400 shares of the industrial products company’s stock worth $724,333,000 after purchasing an additional 1,792,900 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in Caterpillar by 13,546.6% in the second quarter. Thoroughbred Financial Services LLC now owns 517,205 shares of the industrial products company’s stock worth $51,720,000 after purchasing an additional 513,415 shares in the last quarter. LSV Asset Management grew its stake in Caterpillar by 65.5% in the first quarter. LSV Asset Management now owns 1,027,926 shares of the industrial products company’s stock worth $139,273,000 after purchasing an additional 407,000 shares in the last quarter. Geode Capital Management LLC grew its stake in Caterpillar by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock worth $890,658,000 after purchasing an additional 321,277 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Caterpillar by 12.7% in the first quarter. Clearbridge Investments LLC now owns 2,794,952 shares of the industrial products company’s stock worth $378,688,000 after purchasing an additional 314,442 shares in the last quarter. 66.02% of the stock is currently owned by institutional investors.
Shares of CAT traded up $0.44 during midday trading on Thursday, hitting $118.12. 128,546 shares of the company’s stock traded hands, compared to its average volume of 4,704,689. Caterpillar Inc. has a 1 year low of $112.06 and a 1 year high of $159.37. The firm’s fifty day moving average is $128.73 and its 200-day moving average is $131.87. 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 capitalization of $66.03 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 0.83 and a beta of 1.52.
Caterpillar (NYSE:CAT) last issued 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). Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The business had revenue of $14.43 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the company posted $2.97 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Caterpillar Inc. will post 11.73 EPS for the current year.
A number of research firms have weighed in on CAT. Macquarie set a $115.00 target price on Caterpillar and gave the stock a “sell” rating in a report on Tuesday, June 11th. Royal Bank of Canada restated a “hold” rating on shares of Caterpillar in a report on Wednesday, August 14th. Morgan Stanley lowered their target price on Caterpillar from $165.00 to $155.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Standpoint Research upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Finally, Buckingham Research lowered Caterpillar from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $162.00 to $140.00 in a report on Thursday, July 25th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $139.90.
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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