Great Lakes Advisors LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 1.2% during the second quarter, Holdings Channel.com reports. The fund owned 18,897 shares of the industrial products company’s stock after purchasing an additional 215 shares during the period. Great Lakes Advisors LLC’s holdings in Caterpillar were worth $4,112,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Caterpillar by 0.4% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 166,749 shares of the industrial products company’s stock valued at $38,664,000 after purchasing an additional 600 shares during the period. Pacific Wealth Strategies Group Inc. lifted its stake in Caterpillar by 1.9% in the 2nd quarter. Pacific Wealth Strategies Group Inc. now owns 13,278 shares of the industrial products company’s stock valued at $2,890,000 after acquiring an additional 253 shares in the last quarter. Douglas Lane & Associates LLC grew its stake in shares of Caterpillar by 10.8% during the 2nd quarter. Douglas Lane & Associates LLC now owns 6,799 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 661 shares in the last quarter. Corient Capital Partners LLC raised its holdings in shares of Caterpillar by 16.5% in the first quarter. Corient Capital Partners LLC now owns 6,345 shares of the industrial products company’s stock valued at $1,471,000 after purchasing an additional 898 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC lifted its position in shares of Caterpillar by 2.2% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 93,725 shares of the industrial products company’s stock worth $21,732,000 after purchasing an additional 2,038 shares in the last quarter. Institutional investors and hedge funds own 67.82% of the company’s stock.
In related news, Director David Maclennan acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The stock was acquired at an average cost of $206.20 per share, for a total transaction of $103,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, July 29th. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.22. Caterpillar had a return on equity of 30.80% and a net margin of 9.57%. The company had revenue of $12.89 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue was up 28.9% compared to the same quarter last year. On average, research analysts anticipate that Caterpillar Inc. will post 10.08 earnings per share for the current fiscal year.
A number of analysts have commented on CAT shares. Morgan Stanley cut their price target on shares of Caterpillar from $181.00 to $172.00 and set an “underweight” rating for the company in a research note on Monday, August 2nd. Tigress Financial reissued a “buy” rating and issued a $270.00 target price on shares of Caterpillar in a research report on Friday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Caterpillar from $258.00 to $241.00 and set a “buy” rating on the stock in a research report on Monday, August 2nd. Zacks Investment Research cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 target price on the stock. in a report on Wednesday, June 30th. Finally, Credit Suisse Group reduced their price target on Caterpillar from $268.00 to $256.00 and set an “outperform” rating on the stock in a research report on Monday, August 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $233.80.
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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