Paloma Partners Management Co Acquires 15,638 Shares of Caterpillar Inc. (NYSE:CAT)

Paloma Partners Management Co grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 27.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 72,338 shares of the industrial products company’s stock after buying an additional 15,638 shares during the period. Paloma Partners Management Co’s holdings in Caterpillar were worth $9,859,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CAT. LSV Asset Management boosted its holdings in shares of Caterpillar by 168.4% during the 2nd quarter. LSV Asset Management now owns 2,758,506 shares of the industrial products company’s stock valued at $375,956,000 after buying an additional 1,730,580 shares in the last quarter. Sanders Capital LLC boosted its holdings in shares of Caterpillar by 31.5% during the 2nd quarter. Sanders Capital LLC now owns 6,243,500 shares of the industrial products company’s stock valued at $958,477,000 after buying an additional 1,496,100 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Caterpillar by 54.7% during the 2nd quarter. Bank of Montreal Can now owns 2,814,829 shares of the industrial products company’s stock valued at $383,633,000 after buying an additional 995,203 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Caterpillar by 13,546.6% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 517,205 shares of the industrial products company’s stock valued at $51,720,000 after buying an additional 513,415 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Caterpillar by 32.4% during the 2nd quarter. Invesco Ltd. now owns 1,901,865 shares of the industrial products company’s stock valued at $259,205,000 after buying an additional 465,286 shares in the last quarter. Hedge funds and other institutional investors own 64.95% of the company’s stock.

Caterpillar stock traded down $0.96 during mid-day trading on Thursday, reaching $130.11. The stock had a trading volume of 326,903 shares, compared to its average volume of 4,008,509. The company has a market capitalization of $74.91 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.95 and a beta of 1.54. The company has a 50-day moving average price of $121.74 and a two-hundred day moving average price of $130.26. Caterpillar Inc. has a one year low of $111.75 and a one year 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.

Caterpillar (NYSE:CAT) last announced its quarterly 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). The firm had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.97 EPS. On average, equities research analysts anticipate that Caterpillar Inc. will post 11.71 earnings per share for the current fiscal year.

A number of brokerages have recently commented on CAT. Royal Bank of Canada restated a “hold” rating on shares of Caterpillar in a report on Wednesday, August 14th. Macquarie set a $115.00 target price on shares of Caterpillar and gave the company a “sell” rating in a report on Tuesday, June 11th. Atlantic Securities cut shares of Caterpillar from a “neutral” rating to an “underweight” rating in a report on Friday, June 21st. UBS Group dropped their target price on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Finally, Standpoint Research upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $139.23.

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.

Recommended Story: High-Yield Dividend Stocks

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).

Institutional Ownership by Quarter for Caterpillar (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.