Squar Milner Financial Services LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 26.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,757 shares of the industrial products company’s stock after buying an additional 795 shares during the quarter. Squar Milner Financial Services LLC’s holdings in Caterpillar were worth $512,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Paragon Capital Management LLC acquired a new stake in Caterpillar in the 1st quarter valued at approximately $40,000. Legacy Advisors LLC acquired a new stake in Caterpillar in the 1st quarter valued at approximately $47,000. Sound Income Strategies LLC grew its holdings in Caterpillar by 23.5% in the 2nd quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after buying an additional 72 shares during the last quarter. Exane Derivatives acquired a new stake in Caterpillar in the 2nd quarter valued at approximately $54,000. Finally, Liberty Wealth Management LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $66,000. 65.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Caterpillar stock traded down $3.14 during midday trading on Monday, hitting $121.40. 283,387 shares of the company were exchanged, compared to its average volume of 4,265,523. 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 capitalization of $71.22 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 0.88 and a beta of 1.52. Caterpillar Inc. has a 52 week low of $112.06 and a 52 week high of $159.37. The firm has a 50 day simple moving average of $134.01.
A number of research firms have issued reports on CAT. Buckingham Research lowered Caterpillar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $162.00 to $140.00 in a report on Thursday, July 25th. UBS Group decreased their price objective on Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Macquarie set a $115.00 price objective on Caterpillar and gave the stock a “sell” rating in a report on Tuesday, June 11th. Morgan Stanley decreased their price objective on Caterpillar from $165.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, ValuEngine lowered Caterpillar from a “hold” rating to a “sell” rating in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $144.23.
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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