Kayne Anderson Rudnick Investment Management LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 39.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 95,133 shares of the industrial products company’s stock after selling 61,577 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Caterpillar were worth $12,966,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Morgan Stanley boosted its holdings in shares of Caterpillar by 4.2% during the second quarter. Morgan Stanley now owns 4,367,073 shares of the industrial products company’s stock worth $595,189,000 after acquiring an additional 174,165 shares during the period. Weiss Asset Management LP bought a new stake in shares of Caterpillar during the first quarter worth approximately $200,000. Manning & Napier Group LLC boosted its holdings in shares of Caterpillar by 30.4% during the second quarter. Manning & Napier Group LLC now owns 152,404 shares of the industrial products company’s stock worth $20,770,000 after acquiring an additional 35,530 shares during the period. Atalanta Sosnoff Capital LLC boosted its holdings in shares of Caterpillar by 3.6% during the second quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 120 shares during the period. Finally, Krueger & Catalano Capital Partners LLC boosted its holdings in shares of Caterpillar by 6.4% during the second quarter. Krueger & Catalano Capital Partners LLC now owns 4,892 shares of the industrial products company’s stock worth $667,000 after acquiring an additional 293 shares during the period. Institutional investors and hedge funds own 64.95% of the company’s stock.
A number of brokerages have recently issued reports on CAT. ValuEngine cut Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Citigroup reduced their price objective on Caterpillar from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Bank of America reiterated a “buy” rating and issued a $145.00 price target (down from $150.00) on shares of Caterpillar in a research report on Monday, September 9th. Wells Fargo & Co downgraded shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $143.00 price target for the company. in a research report on Wednesday, September 11th. Finally, Morgan Stanley dropped their price target on shares of Caterpillar from $165.00 to $155.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $138.52.
CAT traded up $0.30 during trading on Monday, hitting $126.90. 846,626 shares of the stock traded hands, compared to its average volume of 3,902,737. Caterpillar Inc. has a twelve month low of $111.75 and a twelve month high of $159.37. The company has a market cap of $71.11 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.90 and a beta of 1.54. 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 business has a 50 day moving average price of $122.11 and a 200 day moving average price of $129.92.
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). Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The firm had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 11.71 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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