Daiwa Securities Group Inc. Acquires 7,523 Shares of Caterpillar Inc. (NYSE:CAT)

Daiwa Securities Group Inc. raised its position in Caterpillar Inc. (NYSE:CAT) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98,776 shares of the industrial products company’s stock after purchasing an additional 7,523 shares during the period. Daiwa Securities Group Inc.’s holdings in Caterpillar were worth $13,462,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of CAT. Paragon Capital Management LLC bought a new stake in Caterpillar in the first quarter valued at approximately $40,000. Legacy Advisors LLC bought a new stake in Caterpillar in the first quarter valued at approximately $47,000. Sound Income Strategies LLC increased its stake in Caterpillar by 23.5% in the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 72 shares in the last quarter. Exane Derivatives bought a new stake in Caterpillar in the second quarter valued at approximately $54,000. Finally, Liberty Wealth Management LLC bought a new stake in Caterpillar in the fourth quarter valued at approximately $66,000. 65.80% of the stock is owned by hedge funds and other institutional investors.

NYSE:CAT opened at $124.54 on Friday. Caterpillar Inc. has a 52 week low of $112.06 and a 52 week high of $159.37. The company has a market capitalization of $75.30 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.94 and a beta of 1.52. The business’s 50-day simple moving average is $134.01. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 1.66.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The business had revenue of $14.43 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the prior year, the business posted $2.97 earnings per share. Caterpillar’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Caterpillar Inc. will post 11.73 EPS for the current fiscal year.

CAT has been the subject of several recent analyst reports. Standpoint Research raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. ValuEngine cut shares of Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday. Goldman Sachs Group reiterated a “buy” rating and issued a $156.00 price target on shares of Caterpillar in a report on Thursday, July 25th. Buckingham Research cut shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $162.00 to $140.00 in a report on Thursday, July 25th. Finally, Atlantic Securities cut shares of Caterpillar from a “neutral” rating to an “underweight” rating in a research note on Friday, June 21st. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $144.23.

About Caterpillar

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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