Pictet Asset Management Ltd. Has $33.70 Million Stake in Caterpillar, Inc. (CAT)

Pictet Asset Management Ltd. decreased its position in Caterpillar, Inc. (NYSE:CAT) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 319,613 shares of the industrial products company’s stock after selling 7,500 shares during the period. Pictet Asset Management Ltd. owned about 0.05% of Caterpillar worth $33,697,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Baker Ellis Asset Management LLC purchased a new stake in shares of Caterpillar in the second quarter valued at about $104,000. Harbour Capital Advisors LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $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. purchased a new stake in shares of Caterpillar in the first quarter valued at about $111,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Caterpillar by 75.6% in the second quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 496 shares in the last quarter. 69.24% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar, Inc. (CAT) opened at 124.74 on Wednesday. Caterpillar, Inc. has a 12 month low of $80.33 and a 12 month high of $124.93. The firm has a market cap of $73.72 billion, a price-to-earnings ratio of 696.87 and a beta of 1.24. The company’s 50-day moving average is $116.33 and its 200 day moving average is $105.20. Caterpillar also saw unusually large options trading activity on Monday. Investors bought 20,797 call options on the stock. This represents an increase of 131% compared to the average daily volume of 8,998 call options.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities research analysts predict that Caterpillar, Inc. will post $5.25 earnings per share for the current year.

In other news, Director William A. Osborn sold 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the 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 completion of the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock valued at $22,979,332 over the last three months. 0.15% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece of content on another publication, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/09/20/pictet-asset-management-ltd-has-33-70-million-stake-in-caterpillar-inc-cat.html.

A number of research firms recently commented on CAT. Atlantic Securities raised shares of Caterpillar from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $85.00 to $115.00 in a report on Thursday, August 3rd. Vetr raised shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price objective on the stock in a report on Thursday, August 10th. Argus reissued a “buy” rating and set a $113.10 price objective (down previously from $130.00) on shares of Caterpillar in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “hold” rating and set a $120.00 price objective (up previously from $100.00) on shares of Caterpillar in a report on Wednesday, July 26th. Finally, Axiom Securities reissued a “sell” rating on shares of Caterpillar in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Caterpillar has an average rating of “Hold” and a consensus price target of $113.55.

Caterpillar Profile

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply