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.
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.
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