World Asset Management Inc Trims Position in Caterpillar Inc. (NYSE:CAT)

World Asset Management Inc lessened its stake in Caterpillar Inc. (NYSE:CAT) by 6.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,718 shares of the industrial products company’s stock after selling 1,045 shares during the quarter. World Asset Management Inc’s holdings in Caterpillar were worth $3,421,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CAT. Elmwood Wealth Management Inc. purchased a new position in Caterpillar in the 1st quarter worth about $26,000. CKW Financial Group purchased a new position in Caterpillar during the 2nd quarter valued at about $32,000. Wagner Wealth Management LLC purchased a new position in Caterpillar during the 1st quarter valued at about $35,000. Psagot Investment House Ltd. increased its position in Caterpillar by 105.5% during the 1st quarter. Psagot Investment House Ltd. now owns 150 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 77 shares during the period. Finally, AlphaMark Advisors LLC increased its position in Caterpillar by 87.0% during the 2nd quarter. AlphaMark Advisors LLC now owns 187 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 87 shares during the period. 67.82% of the stock is currently owned by institutional investors.

NYSE CAT traded up $3.35 on Wednesday, hitting $205.68. 83,958 shares of the company’s stock traded hands, compared to its average volume of 3,378,652. The company has a current ratio of 1.56, a quick ratio of 1.10 and a debt-to-equity ratio of 1.55. Caterpillar Inc. has a 1-year low of $142.73 and a 1-year high of $246.69. The firm’s 50-day moving average price is $210.52 and its two-hundred day moving average price is $222.31. The firm has a market capitalization of $112.60 billion, a PE ratio of 25.67, a P/E/G ratio of 1.69 and a beta of 0.90.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, July 29th. The industrial products company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.38 by $0.22. Caterpillar had a net margin of 9.57% and a return on equity of 30.80%. The business had revenue of $12.89 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the business posted $1.03 EPS. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, research analysts anticipate that Caterpillar Inc. will post 10.08 earnings per share for the current fiscal year.

In other news, Director David Maclennan bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The stock was purchased at an average cost of $206.20 per share, for a total transaction of $103,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

A number of research analysts have commented on the stock. Tigress Financial reissued a “buy” rating and set a $270.00 target price on shares of Caterpillar in a research report on Friday, August 6th. Zacks Investment Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 target price on the stock. in a research report on Wednesday, June 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Caterpillar from $258.00 to $241.00 and set a “buy” rating on the stock in a research report on Monday, August 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $264.00 price objective on shares of Caterpillar in a research report on Thursday, May 27th. Finally, Morgan Stanley cut their price objective on shares of Caterpillar from $181.00 to $172.00 and set an “underweight” rating on the stock in a research report on Monday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $233.80.

Caterpillar Company 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.

Further Reading: What is a Reverse Stock Split?

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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