Kore Private Wealth LLC Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

Kore Private Wealth LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 23.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,595 shares of the industrial products company’s stock after selling 793 shares during the quarter. Kore Private Wealth LLC’s holdings in Caterpillar were worth $565,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Caterpillar by 5.9% in the second quarter. BlackRock Inc. now owns 36,888,853 shares of the industrial products company’s stock valued at $8,028,123,000 after purchasing an additional 2,064,453 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Caterpillar by 11.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,492,830 shares of the industrial products company’s stock valued at $3,360,452,000 after acquiring an additional 1,451,470 shares during the period. Vanguard Group Inc. increased its position in Caterpillar by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 47,434,967 shares of the industrial products company’s stock valued at $10,323,272,000 after acquiring an additional 1,165,504 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Caterpillar in the 1st quarter valued at approximately $122,802,000. Finally, Bank of Nova Scotia boosted its holdings in Caterpillar by 205.9% in the 2nd quarter. Bank of Nova Scotia now owns 661,029 shares of the industrial products company’s stock valued at $143,860,000 after purchasing an additional 444,912 shares in the last quarter. Institutional investors own 67.82% of the company’s stock.

In related news, Director David Maclennan purchased 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The shares were bought at an average cost of $206.20 per share, with a total value of $103,100.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

CAT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Caterpillar from $258.00 to $241.00 and set a “buy” rating on the stock in a research note on Monday, August 2nd. Zacks Investment Research downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 price target for the company. in a report on Wednesday, June 30th. Cowen assumed coverage on Caterpillar in a report on Thursday. They set an “outperform” rating and a $241.00 price objective for the company. Tigress Financial reaffirmed a “buy” rating and set a $270.00 price target on shares of Caterpillar in a research report on Friday, August 6th. Finally, Citigroup upped their price target on shares of Caterpillar from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $231.14.

Shares of Caterpillar stock opened at $188.94 on Thursday. The company has a market capitalization of $103.44 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.69 and a beta of 0.90. The company has a quick ratio of 1.10, a current ratio of 1.56 and a debt-to-equity ratio of 1.55. Caterpillar Inc. has a 12-month low of $149.63 and a 12-month high of $246.69. The firm’s 50-day moving average price is $204.12 and its two-hundred day moving average price is $218.25.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, July 29th. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.22. Caterpillar had a net margin of 9.57% and a return on equity of 30.80%. The firm had revenue of $12.89 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter last year, the business earned $1.03 EPS. The company’s revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts expect that Caterpillar Inc. will post 10.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 19th. Shareholders of record on Monday, October 25th will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, October 22nd. Caterpillar’s dividend payout ratio is 67.68%.

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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