M&T Bank Corp trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,370 shares of the industrial products company’s stock after selling 4,854 shares during the period. M&T Bank Corp’s holdings in Caterpillar were worth $20,085,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Tortoise Investment Management LLC lifted its position in Caterpillar by 3,600.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 180 shares during the period. Kavar Capital Partners LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $46,000. Sound Income Strategies LLC lifted its position in Caterpillar by 23.5% during the 2nd quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 72 shares during the period. Exane Derivatives purchased a new position in Caterpillar during the 2nd quarter valued at about $54,000. Finally, JNBA Financial Advisors lifted its position in Caterpillar by 33.3% during the 2nd quarter. JNBA Financial Advisors now owns 400 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 100 shares during the period. 65.07% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on CAT. Wells Fargo & Co lowered their price target on shares of Caterpillar from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. ValuEngine lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Buckingham Research lowered shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $162.00 to $140.00 in a research note on Thursday, July 25th. Goldman Sachs Group lowered shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $156.00 to $130.00 in a research note on Wednesday, August 7th. Finally, Stephens began coverage on shares of Caterpillar in a research note on Wednesday, August 14th. They set an “underweight” rating and a $100.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and an average target price of $139.90.
Shares of CAT stock traded up $2.06 during trading hours on Wednesday, reaching $119.09. The company had a trading volume of 2,339,156 shares, compared to its average volume of 3,615,031. The business has a fifty day moving average price of $123.67 and a 200-day moving average price of $130.95. Caterpillar Inc. has a one year low of $111.75 and a one year high of $159.37. The firm has a market cap of $66.95 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.54. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43.
Caterpillar (NYSE:CAT) last announced its quarterly 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). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The company had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 11.76 EPS for the current year.
Caterpillar Company Profile
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.
Featured Article: What are momentum indicators and what do they show?
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).
Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.