Allstate Corp trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 57.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,873 shares of the industrial products company’s stock after selling 25,998 shares during the period. Allstate Corp’s holdings in Caterpillar were worth $4,205,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. FDx Advisors Inc. raised its stake in Caterpillar by 38.1% in the 1st quarter. FDx Advisors Inc. now owns 1,697 shares of the industrial products company’s stock valued at $378,000 after acquiring an additional 468 shares during the period. Stonnington Group LLC raised its stake in Caterpillar by 1.9% in the 1st quarter. Stonnington Group LLC now owns 17,545 shares of the industrial products company’s stock valued at $3,791,000 after acquiring an additional 330 shares during the period. Deutsche Bank AG raised its stake in Caterpillar by 6.4% in the 4th quarter. Deutsche Bank AG now owns 1,769,205 shares of the industrial products company’s stock valued at $365,767,000 after acquiring an additional 106,731 shares during the period. Signaturefd LLC raised its stake in Caterpillar by 4.1% in the 1st quarter. Signaturefd LLC now owns 8,718 shares of the industrial products company’s stock valued at $1,943,000 after acquiring an additional 341 shares during the period. Finally, Rehmann Capital Advisory Group raised its stake in Caterpillar by 3.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,666 shares of the industrial products company’s stock valued at $758,000 after acquiring an additional 106 shares during the period. 68.80% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Tigress Financial upped their price target on Caterpillar from $278.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, May 20th. Daiwa Capital Markets decreased their price target on Caterpillar to $190.00 in a research report on Tuesday, August 9th. Cowen decreased their price target on Caterpillar from $255.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, July 7th. JPMorgan Chase & Co. decreased their price target on Caterpillar from $250.00 to $205.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Finally, UBS Group decreased their price target on Caterpillar from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $223.38.
Caterpillar Stock Up 3.5 %
Caterpillar (NYSE:CAT – Get Rating) last issued its earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.18. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.39 billion. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. Caterpillar’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.60 earnings per share. On average, analysts forecast that Caterpillar Inc. will post 12.65 earnings per share for the current fiscal year.
Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.
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