Davidson Investment Advisors lowered its position in Caterpillar Inc. (NYSE:CAT) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,165 shares of the industrial products company’s stock after selling 150 shares during the quarter. Davidson Investment Advisors’ holdings in Caterpillar were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in CAT. Price T Rowe Associates Inc. MD increased its stake in shares of Caterpillar by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,492,830 shares of the industrial products company’s stock valued at $3,360,452,000 after buying an additional 1,451,470 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Caterpillar in the first quarter valued at approximately $122,802,000. CIBC Private Wealth Group LLC boosted its holdings in Caterpillar by 1,045.9% in the first quarter. CIBC Private Wealth Group LLC now owns 478,702 shares of the industrial products company’s stock valued at $110,997,000 after acquiring an additional 436,928 shares during the last quarter. Mn Services Vermogensbeheer B.V. bought a new stake in Caterpillar in the second quarter valued at approximately $73,392,000. Finally, Capital International Investors boosted its holdings in Caterpillar by 4.4% in the first quarter. Capital International Investors now owns 8,454,057 shares of the industrial products company’s stock valued at $1,960,242,000 after acquiring an additional 360,098 shares during the last quarter. 67.82% of the stock is owned by institutional investors.
NYSE CAT traded up $2.26 on Wednesday, reaching $204.59. The company had a trading volume of 14,259 shares, compared to its average volume of 3,378,652. Caterpillar Inc. has a 52-week low of $142.73 and a 52-week high of $246.69. The stock has a market capitalization of $112.01 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.69 and a beta of 0.90. The company’s fifty day moving average is $210.52 and its 200 day moving average is $222.31. The company has a quick ratio of 1.10, a current ratio of 1.56 and a debt-to-equity ratio of 1.55.
Several analysts recently commented on CAT shares. Credit Suisse Group reduced their target price on Caterpillar from $268.00 to $256.00 and set an “outperform” rating on the stock in a report on Monday, August 2nd. Zacks Investment Research cut Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 price target on the stock. in a report on Wednesday, June 30th. Tigress Financial restated a “buy” rating and set a $270.00 price target on shares of Caterpillar in a report on Friday, August 6th. The Goldman Sachs Group restated a “buy” rating and set a $264.00 price target on shares of Caterpillar in a report on Thursday, May 27th. Finally, Morgan Stanley cut their price target on Caterpillar from $181.00 to $172.00 and set an “underweight” rating on the stock in a report on Monday, August 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average price target of $233.80.
In other Caterpillar news, Director David Maclennan bought 500 shares of the firm’s stock in a transaction dated Wednesday, August 4th. The stock was purchased at an average cost of $206.20 per share, with a total value of $103,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.
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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