Investment Management of Virginia LLC Buys 20 Shares of Caterpillar, Inc. (CAT)
Investment Management of Virginia LLC increased its stake in Caterpillar, Inc. (NYSE:CAT) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,511 shares of the industrial products company’s stock after buying an additional 20 shares during the period. Investment Management of Virginia LLC’s holdings in Caterpillar were worth $2,419,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CAT. FMR LLC grew its stake in shares of Caterpillar by 11.4% in the 1st quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after buying an additional 1,798,312 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Caterpillar in the 1st quarter worth approximately $143,490,000. Morgan Stanley grew its stake in shares of Caterpillar by 15.1% in the 1st quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Caterpillar by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after buying an additional 1,342,984 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Caterpillar in the 2nd quarter worth approximately $117,223,000. Institutional investors own 69.24% of the company’s stock.
Shares of Caterpillar, Inc. (NYSE:CAT) opened at 124.71 on Friday. The firm has a 50-day moving average price of $116.33 and a 200-day moving average price of $105.20. Caterpillar, Inc. has a 52 week low of $80.33 and a 52 week high of $125.55. The stock has a market cap of $73.70 billion, a price-to-earnings ratio of 696.70 and a beta of 1.24.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. The company had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, equities analysts anticipate that Caterpillar, Inc. will post $5.25 earnings per share for the current year.
Several analysts recently weighed in on CAT shares. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research note on Tuesday, June 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $110.00 price objective on shares of Caterpillar in a research report on Wednesday, June 21st. Bank of America Corporation set a $120.00 price objective on Caterpillar and gave the company a “buy” rating in a research report on Tuesday, June 20th. Credit Suisse Group reaffirmed a “buy” rating and issued a $123.00 price objective on shares of Caterpillar in a research report on Thursday, June 22nd. Finally, Deutsche Bank AG cut Caterpillar from a “buy” rating to a “hold” rating and lowered their price objective for the company from $121.00 to $106.00 in a research report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Caterpillar presently has a consensus rating of “Hold” and an average target price of $114.03.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock valued at $22,979,332 over the last 90 days. 0.14% of the stock is currently owned by insiders.
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