Penobscot Investment Management Company Inc. decreased its position in Caterpillar Inc. (NYSE:CAT) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,910 shares of the industrial products company’s stock after selling 161 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Caterpillar were worth $942,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of CAT. Paragon Capital Management LLC purchased a new stake in shares of Caterpillar during the 1st quarter valued at $40,000. Kavar Capital Partners LLC acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $46,000. Sound Income Strategies LLC boosted its position in shares of 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 last quarter. Exane Derivatives acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $54,000. Finally, JNBA Financial Advisors boosted its position in shares of 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 last quarter. Hedge funds and other institutional investors own 66.86% of the company’s stock.
Shares of CAT traded up $1.28 during mid-day trading on Friday, reaching $116.53. The company had a trading volume of 2,234,396 shares, compared to its average volume of 4,680,135. Caterpillar Inc. has a twelve month low of $112.06 and a twelve month high of $159.37. 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 company’s 50-day moving average is $131.01 and its 200-day moving average is $132.33. The company has a market capitalization of $65.79 billion, a P/E ratio of 10.39, a P/E/G ratio of 0.85 and a beta of 1.52.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the prior year, the business earned $2.97 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts expect that Caterpillar Inc. will post 11.73 EPS for the current fiscal year.
Several brokerages have recently weighed in on CAT. Royal Bank of Canada reissued a “hold” rating on shares of Caterpillar in a research report on Wednesday. ValuEngine lowered shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Standpoint Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Wells Fargo & Co cut their target price on shares of Caterpillar from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, UBS Group cut their target price on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a research note on Tuesday, June 4th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. Caterpillar has an average rating of “Hold” and an average price target of $139.90.
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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