Canandaigua National Corp raised its stake in shares of Caterpillar Inc. (NYSE:CAT – Get Rating) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 16,808 shares of the industrial products company’s stock after purchasing an additional 130 shares during the quarter. Canandaigua National Corp’s holdings in Caterpillar were worth $3,005,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FDx Advisors Inc. lifted its stake in Caterpillar by 38.1% during 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 increased its position in shares of Caterpillar by 1.9% during the 1st quarter. Stonnington Group LLC now owns 17,545 shares of the industrial products company’s stock valued at $3,791,000 after purchasing an additional 330 shares during the last quarter. Deutsche Bank AG increased its position in shares of Caterpillar by 6.4% during 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 purchasing an additional 106,731 shares during the last quarter. Signaturefd LLC increased its position in shares of Caterpillar by 4.1% during the 1st quarter. Signaturefd LLC now owns 8,718 shares of the industrial products company’s stock valued at $1,943,000 after purchasing an additional 341 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its position in shares of Caterpillar by 3.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,666 shares of the industrial products company’s stock valued at $758,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 68.80% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Caterpillar from $161.00 to $142.00 and set an “underweight” rating for the company in a report on Monday, July 18th. Credit Suisse Group increased their price objective on shares of Caterpillar from $226.00 to $236.00 and gave the company an “outperform” rating in a report on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Caterpillar from $240.00 to $227.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Wells Fargo & Company lowered their target price on Caterpillar from $230.00 to $205.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 3rd. Finally, Cowen lowered their target price on Caterpillar from $255.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.38.
Caterpillar Stock Performance
Caterpillar (NYSE:CAT – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 EPS for the quarter, beating the consensus estimate of $3.00 by $0.18. The firm had revenue of $14.25 billion for 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%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.60 earnings per share. On average, equities research analysts expect 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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