American National Insurance Co. cut its holdings in Caterpillar Inc. (NYSE:CAT) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,995 shares of the industrial products company’s stock after selling 75 shares during the period. American National Insurance Co.’s holdings in Caterpillar were worth $9,139,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Elmwood Wealth Management Inc. bought a new position in Caterpillar in the 1st quarter worth $26,000. CKW Financial Group acquired a new position in shares of Caterpillar during the 2nd quarter worth about $32,000. Wagner Wealth Management LLC bought a new stake in Caterpillar during the 1st quarter valued at approximately $35,000. Psagot Investment House Ltd. grew its holdings in Caterpillar by 105.5% in the 1st quarter. Psagot Investment House Ltd. now owns 150 shares of the industrial products company’s stock valued at $35,000 after buying an additional 77 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its position in Caterpillar by 87.0% in the 2nd quarter. AlphaMark Advisors LLC now owns 187 shares of the industrial products company’s stock worth $41,000 after buying an additional 87 shares during the period. 67.82% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the stock. Credit Suisse Group dropped their target price on shares of Caterpillar from $268.00 to $256.00 and set an “outperform” rating on the stock in a research report on Monday, August 2nd. Zacks Investment Research lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 price objective for the company. in a research report on Wednesday, June 30th. The Goldman Sachs Group restated a “buy” rating and set a $264.00 price target on shares of Caterpillar in a research note on Thursday, May 27th. Tigress Financial reiterated a “buy” rating and issued a $270.00 price objective on shares of Caterpillar in a research report on Friday, August 6th. Finally, Morgan Stanley cut their target price on Caterpillar from $181.00 to $172.00 and set an “underweight” rating for the company in a research note on Monday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $233.80.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, July 29th. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the business earned $1.03 EPS. The company’s revenue was up 28.9% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 10.08 earnings per share for the current year.
In related news, Director David Maclennan purchased 500 shares of the stock in a transaction on Wednesday, August 4th. The shares were purchased at an average price 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 can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.
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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