Centaurus Financial Inc. increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 50.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,107 shares of the industrial products company’s stock after buying an additional 4,067 shares during the period. Centaurus Financial Inc.’s holdings in Caterpillar were worth $1,643,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Lee Financial Co lifted its holdings in shares of Caterpillar by 365.1% in the first quarter. Lee Financial Co now owns 814 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 639 shares in the last quarter. Stelac Advisory Services LLC purchased a new stake in shares of Caterpillar in the first quarter valued at about $129,000. Front Row Advisors LLC lifted its holdings in shares of Caterpillar by 125.0% in the first quarter. Front Row Advisors LLC now owns 900 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 500 shares in the last quarter. Landaas & Co. WI ADV purchased a new stake in shares of Caterpillar in the second quarter valued at about $130,000. Finally, Avestar Capital LLC lifted its holdings in shares of Caterpillar by 92.3% in the second quarter. Avestar Capital LLC now owns 994 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 477 shares in the last quarter. 67.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CAT opened at $145.54 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.97 and a debt-to-equity ratio of 1.59. The company has a market cap of $85.75 billion, a P/E ratio of 14.57, a PEG ratio of 0.79 and a beta of 1.37. Caterpillar Inc. has a 1 year low of $119.21 and a 1 year high of $173.24.
Several brokerages have issued reports on CAT. Royal Bank of Canada upped their price target on shares of Caterpillar to $166.00 and gave the company a “sector perform” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. BMO Capital Markets reduced their price target on shares of Caterpillar from $195.00 to $185.00 and set an “outperform” rating on the stock in a report on Tuesday, July 31st. They noted that the move was a valuation call. Deutsche Bank set a $177.00 price target on shares of Caterpillar and gave the company a “buy” rating in a report on Wednesday, September 5th. Finally, CIBC began coverage on shares of Caterpillar in a report on Friday, September 7th. They issued a “market perform” rating on the stock. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $172.22.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
See Also: Trading Strategy Examples and Plans
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.