Alpha Cubed Investments LLC raised its position in Caterpillar, Inc. (NYSE:CAT) by 19.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,514 shares of the industrial products company’s stock after purchasing an additional 1,222 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Caterpillar were worth $807,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of CAT. Harbour Capital Advisors LLC bought a new position in shares of Caterpillar in the first quarter valued at approximately $107,000. First Personal Financial Services boosted its holdings in shares of Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 750 shares in the last quarter. Harfst & Associates Inc. bought a new position in shares of Caterpillar in the first quarter valued at approximately $111,000. Financial Architects Inc boosted its holdings in shares of Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 65 shares in the last quarter. Finally, Reilly Financial Advisors LLC boosted its holdings in shares of Caterpillar by 92.9% in the second quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 535 shares in the last quarter. Institutional investors and hedge funds own 69.24% of the company’s stock.
A number of analysts recently weighed in on CAT shares. BidaskClub upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Seaport Global Securities began coverage on shares of Caterpillar in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $120.00 price target for the company. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research report on Tuesday, June 6th. Wells Fargo & Company restated an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Finally, Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price target for the company. in a research report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Caterpillar currently has a consensus rating of “Hold” and a consensus target price of $114.03.
In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,471 shares of company stock valued at $22,979,332. Company insiders own 0.15% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at 124.43 on Friday. The firm has a market capitalization of $73.53 billion, a price-to-earnings ratio of 695.14 and a beta of 1.24. Caterpillar, Inc. has a 52-week low of $80.33 and a 52-week high of $125.42. The firm has a 50-day moving average of $116.33 and a 200 day moving average of $105.20.
Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business earned $1.09 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts predict that Caterpillar, Inc. will post $5.25 EPS for the current year.
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