Focused Wealth Management Inc lessened its position in shares of Caterpillar Inc. (NYSE:CAT) by 50.5% in the second quarter, HoldingsChannel.com reports. The fund owned 6,999 shares of the industrial products company’s stock after selling 7,129 shares during the period. Focused Wealth Management Inc’s holdings in Caterpillar were worth $950,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of CAT. Cornerstone Wealth Management LLC boosted its holdings in shares of Caterpillar by 13,856.0% during the second quarter. Cornerstone Wealth Management LLC now owns 1,253,525 shares of the industrial products company’s stock worth $9,194,000 after acquiring an additional 1,244,543 shares during the period. Alps Advisors Inc. bought a new stake in shares of Caterpillar during the second quarter worth approximately $68,531,000. Summit Trail Advisors LLC boosted its holdings in shares of Caterpillar by 15,223.3% during the first quarter. Summit Trail Advisors LLC now owns 444,377 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 441,477 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Caterpillar by 56.5% during the first quarter. Schroder Investment Management Group now owns 1,205,842 shares of the industrial products company’s stock worth $177,717,000 after acquiring an additional 435,362 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Caterpillar by 23.6% during the second quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock worth $265,581,000 after acquiring an additional 374,038 shares during the period. Institutional investors own 67.94% of the company’s stock.
CAT has been the subject of a number of research analyst reports. Bank of America restated a “hold” rating and set a $163.00 price objective on shares of Caterpillar in a report on Friday, June 15th. Zacks Investment Research cut Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. Deutsche Bank set a $177.00 price objective on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, September 5th. Argus reduced their price objective on Caterpillar from $185.00 to $165.00 and set a “buy” rating for the company in a report on Monday, August 13th. Finally, Goldman Sachs Group cut Caterpillar from a “conviction-buy” rating to a “buy” rating in a report on Monday, July 16th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Caterpillar presently has a consensus rating of “Buy” and an average price target of $172.22.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Monday, July 30th. The industrial products company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.73 by $0.24. Caterpillar had a net margin of 6.12% and a return on equity of 40.60%. The business had revenue of $14.01 billion during the quarter, compared to the consensus estimate of $14.09 billion. During the same period in the previous year, the business earned $1.49 earnings per share. The company’s revenue was up 23.7% on a year-over-year basis. sell-side analysts anticipate that Caterpillar Inc. will post 11.65 earnings per share for the current year.
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.
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