Novare Capital Management LLC Maintains Position in Caterpillar, Inc. (CAT)
Novare Capital Management LLC held its position in shares of Caterpillar, Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,198 shares of the industrial products company’s stock at the end of the 2nd quarter. Novare Capital Management LLC’s holdings in Caterpillar were worth $236,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. NGAM Advisors L.P. lifted 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 valued at $8,742,000 after acquiring an additional 2,286 shares in the last quarter. Bank of Nova Scotia lifted 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 valued at $18,208,000 after acquiring an additional 164,989 shares in the last quarter. Bancorpsouth Inc. lifted 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 valued at $537,000 after acquiring 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 valued at approximately $46,917,000. Finally, State of Tennessee Treasury Department lifted 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 valued at $26,746,000 after acquiring an additional 106,270 shares in the last quarter. 69.24% of the stock is owned by institutional investors and hedge funds.
In related news, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were 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 in the company, valued at $2,078,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock worth $22,979,332 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.
Caterpillar, Inc. (NYSE:CAT) opened at 121.37 on Monday. Caterpillar, Inc. has a 1-year low of $80.33 and a 1-year high of $121.57. The firm has a market capitalization of $71.73 billion, a price-to-earnings ratio of 678.04 and a beta of 1.24. The company has a 50-day moving average of $115.74 and a 200-day moving average of $104.67.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts predict that Caterpillar, Inc. will post $5.24 earnings per share for the current year.
CAT has been the subject of several research analyst reports. Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $107.75 price target for the company. in a research report on Tuesday, May 23rd. Bank of America Corporation restated a “buy” rating and issued a $120.00 price target on shares of Caterpillar in a research report on Thursday, May 25th. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research report on Tuesday, June 6th. BMO Capital Markets restated a “hold” rating and issued a $110.00 price target on shares of Caterpillar in a research report on Wednesday, June 21st. Finally, Credit Suisse Group restated a “buy” rating and issued a $123.00 price target on shares of Caterpillar in a research report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $111.74.
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Caterpillar Company Profile
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