Lowe Brockenbrough & Co. Inc. Sells 10 Shares of Caterpillar, Inc. (CAT)
Lowe Brockenbrough & Co. Inc. cut its holdings in Caterpillar, Inc. (NYSE:CAT) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,802 shares of the industrial products company’s stock after selling 10 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Caterpillar were worth $1,053,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. NGAM Advisors L.P. boosted its position in shares of Caterpillar by 2.9% in the 2nd quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock worth $8,742,000 after buying an additional 2,286 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Caterpillar by 527.0% in the 1st quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock worth $18,208,000 after buying an additional 164,989 shares in the last quarter. Bancorpsouth Inc. boosted its position in shares of Caterpillar by 1.2% in the 1st quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock worth $537,000 after buying an additional 69 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Caterpillar in the 1st quarter worth about $46,917,000. Finally, State of Tennessee Treasury Department boosted its position in shares of Caterpillar by 58.4% in the 1st quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock worth $26,746,000 after buying an additional 106,270 shares in the last quarter. Institutional investors and hedge funds own 69.23% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at 121.37 on Friday. The firm has a market cap of $71.73 billion, a P/E ratio of 678.04 and a beta of 1.24. Caterpillar, Inc. has a 52-week low of $80.33 and a 52-week high of $121.57. The company’s 50-day moving average is $115.74 and its 200-day moving average is $104.67.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. Equities research analysts forecast that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
In related news, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total value of $1,584,083.70. Following the transaction, the insider now directly owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is owned by corporate insiders.
CAT has been the topic of several recent research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $100.00 price objective on shares of Caterpillar in a research report on Tuesday, August 29th. Royal Bank Of Canada restated a “hold” rating on shares of Caterpillar in a report on Tuesday, August 29th. Vetr lowered shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price on the stock. in a report on Monday, September 4th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a report on Friday, June 16th. Finally, Bank of America Corporation restated a “buy” rating and issued a $135.00 target price (up from $120.00) on shares of Caterpillar in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $111.74.
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