AE Wealth Management LLC raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 87.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,357 shares of the industrial products company’s stock after acquiring an additional 20,225 shares during the quarter. AE Wealth Management LLC’s holdings in Caterpillar were worth $5,909,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Paragon Capital Management LLC bought a new stake in Caterpillar in the first quarter valued at $40,000. Legacy Advisors LLC bought a new stake in shares of Caterpillar during the first quarter worth $47,000. Sound Income Strategies LLC grew its holdings in shares of Caterpillar by 23.5% during the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 72 shares during the last quarter. Exane Derivatives bought a new stake in shares of Caterpillar during the second quarter worth $54,000. Finally, Liberty Wealth Management LLC bought a new stake in shares of Caterpillar during the fourth quarter worth $66,000. 66.86% of the stock is currently owned by institutional investors.
CAT has been the topic of several research analyst reports. Macquarie set a $115.00 target price on Caterpillar and gave the stock a “sell” rating in a report on Tuesday, June 11th. Wells Fargo & Co cut their target price on Caterpillar from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Morgan Stanley cut their target price on Caterpillar from $165.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Stephens initiated coverage on Caterpillar in a report on Wednesday. They issued an “underweight” rating and a $100.00 price target for the company. Finally, Goldman Sachs Group downgraded Caterpillar from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $156.00 to $130.00 in a report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $139.90.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.12 by ($0.29). The business had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $14.47 billion. Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.97 EPS. As a group, research analysts forecast that Caterpillar Inc. will post 11.73 EPS for the current fiscal year.
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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