Whittier Trust Co. Reduces Stake in Caterpillar Inc. (NYSE:CAT)

Whittier Trust Co. lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 60,740 shares of the industrial products company’s stock after selling 556 shares during the quarter. Whittier Trust Co.’s holdings in Caterpillar were worth $8,278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new stake in Caterpillar in the 1st quarter worth approximately $200,000. Tufton Capital Management lifted its stake in shares of Caterpillar by 1.2% in the 1st quarter. Tufton Capital Management now owns 66,628 shares of the industrial products company’s stock valued at $9,027,000 after purchasing an additional 787 shares during the period. Physicians Financial Services Inc. lifted its stake in shares of Caterpillar by 11.9% in the 1st quarter. Physicians Financial Services Inc. now owns 17,855 shares of the industrial products company’s stock valued at $2,419,000 after purchasing an additional 1,895 shares during the period. Atalanta Sosnoff Capital LLC lifted its stake in shares of Caterpillar by 3.6% in the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 3,487 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 120 shares during the period. Finally, Financial Counselors Inc. lifted its stake in shares of Caterpillar by 11.3% in the 1st quarter. Financial Counselors Inc. now owns 145,766 shares of the industrial products company’s stock valued at $19,750,000 after purchasing an additional 14,774 shares during the period. Institutional investors and hedge funds own 65.80% of the company’s stock.

CAT stock traded down $3.23 on Friday, reaching $123.56. 3,592,008 shares of the company traded hands, compared to its average volume of 3,899,847. Caterpillar Inc. has a one year low of $112.06 and a one year high of $159.37. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. The company has a market cap of $72.05 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.95 and a beta of 1.54. The firm’s fifty day simple moving average is $134.08.

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

CAT has been the subject of a number of research analyst reports. Macquarie set a $115.00 target price on Caterpillar and gave the company a “sell” rating in a research note on Tuesday, June 11th. Atlantic Securities cut Caterpillar from a “neutral” rating to an “underweight” rating in a research note on Friday, June 21st. Wells Fargo & Co lowered their target price on Caterpillar from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Morgan Stanley lowered their target price on Caterpillar from $165.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $156.00 target price on shares of Caterpillar in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $144.23.

Caterpillar Profile

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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