Holderness Investments Co. Sells 240 Shares of Caterpillar Inc. (NYSE:CAT)

Holderness Investments Co. lessened its stake in Caterpillar Inc. (NYSE:CAT) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 11,319 shares of the industrial products company’s stock after selling 240 shares during the period. Holderness Investments Co.’s holdings in Caterpillar were worth $1,543,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CAT. Kavar Capital Partners LLC bought a new stake in Caterpillar during the second quarter worth $46,000. Sound Income Strategies LLC lifted its holdings in Caterpillar by 23.5% during the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 72 shares during the period. Exane Derivatives bought a new stake in Caterpillar during the second quarter worth $54,000. JNBA Financial Advisors lifted its holdings in Caterpillar by 33.3% during the second quarter. JNBA Financial Advisors now owns 400 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 100 shares during the period. Finally, Bray Capital Advisors lifted its holdings in Caterpillar by 25.3% during the second quarter. Bray Capital Advisors now owns 500 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 101 shares during the period. Institutional investors own 66.86% of the company’s stock.

NYSE:CAT traded up $1.18 during trading hours on Friday, reaching $116.43. The stock had a trading volume of 3,503,000 shares, compared to its average volume of 4,769,779. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. The stock has a 50 day simple moving average of $130.63 and a 200 day simple moving average of $132.25. Caterpillar Inc. has a 12-month low of $112.06 and a 12-month high of $159.37. The stock has a market cap of $64.82 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 0.82 and a beta of 1.52.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The firm had revenue of $14.43 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the prior year, the business earned $2.97 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Caterpillar Inc. will post 11.73 earnings per share for the current fiscal year.

A number of analysts recently commented on CAT shares. Wells Fargo & Co dropped their price target on Caterpillar from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. ValuEngine lowered Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Stephens started coverage on Caterpillar in a report on Wednesday. They set an “underweight” rating and a $100.00 price target on the stock. UBS Group dropped their price target on Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Finally, Credit Suisse Group dropped their price target on Caterpillar from $172.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. Caterpillar currently has an average rating of “Hold” and a consensus price target of $139.90.

About Caterpillar

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.

Read More: How are Outstanding Shares Different from Authorized Shares?

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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