Westhampton Capital LLC Makes New Investment in Caterpillar Inc. (NYSE:CAT)

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Westhampton Capital LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, Holdings Channel reports. The fund purchased 4,360 shares of the industrial products company’s stock, valued at approximately $594,000.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of 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 valued at $890,658,000 after acquiring an additional 321,277 shares during the period. BLB&B Advisors LLC increased its stake in Caterpillar by 11.7% in the 1st quarter. BLB&B Advisors LLC now owns 19,257 shares of the industrial products company’s stock worth $2,609,000 after buying an additional 2,020 shares during the period. Cambridge Trust Co. increased its stake in Caterpillar by 3.5% in the 1st quarter. Cambridge Trust Co. now owns 2,425 shares of the industrial products company’s stock worth $329,000 after buying an additional 83 shares during the period. Winslow Evans & Crocker Inc. increased its stake in Caterpillar by 3.2% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,496 shares of the industrial products company’s stock worth $610,000 after buying an additional 138 shares during the period. Finally, Callahan Advisors LLC increased its stake in Caterpillar by 39.5% in the 1st quarter. Callahan Advisors LLC now owns 47,630 shares of the industrial products company’s stock worth $6,453,000 after buying an additional 13,492 shares during the period. Institutional investors own 66.02% of the company’s stock.

Several research analysts recently commented on the stock. Macquarie set a $115.00 price target on shares of Caterpillar and gave the stock a “sell” rating in a research note on Tuesday, June 11th. Morgan Stanley reduced their price target on shares of Caterpillar from $165.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Buckingham Research downgraded shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $162.00 to $140.00 in a research note on Thursday, July 25th. Credit Suisse Group reduced their price target on shares of Caterpillar from $172.00 to $164.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Atlantic Securities downgraded shares of Caterpillar from a “neutral” rating to an “underweight” rating in a research note on Friday, June 21st. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $139.90.

NYSE CAT traded down $3.75 during trading on Friday, reaching $114.14. 3,123,661 shares of the company’s stock traded hands, compared to its average volume of 4,618,702. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00. The firm has a market cap of $65.64 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.83 and a beta of 1.52. The company’s 50 day simple moving average is $128.38 and its two-hundred day simple moving average is $131.81. Caterpillar Inc. has a 12-month low of $112.06 and a 12-month high of $159.37.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). The business had revenue of $14.43 billion for the quarter, compared to analysts’ expectations of $14.47 billion. Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. 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. Research analysts expect that Caterpillar Inc. will post 11.73 earnings per share for the current fiscal year.

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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Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT).

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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