Highland Capital Management LLC Has $3.79 Million Stake in Caterpillar Inc. (NYSE:CAT)

Highland Capital Management LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CATGet Rating) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,171 shares of the industrial products company’s stock after selling 79 shares during the period. Highland Capital Management LLC’s holdings in Caterpillar were worth $3,785,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nauset Wealth Management. LLC bought a new position in shares of Caterpillar during the 1st quarter worth about $29,000. Arcadia Investment Management Corp MI bought a new position in Caterpillar in the 1st quarter valued at about $33,000. Core Alternative Capital lifted its position in Caterpillar by 786.4% in the 1st quarter. Core Alternative Capital now owns 195 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 173 shares in the last quarter. IMA Wealth Inc. bought a new position in shares of Caterpillar during the 4th quarter worth approximately $41,000. Finally, Capital Advisory Group Advisory Services LLC bought a new position in shares of Caterpillar during the 1st quarter worth approximately $45,000. 68.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Daiwa Capital Markets decreased their price target on shares of Caterpillar to $190.00 in a research note on Tuesday, August 9th. Cowen cut their price target on shares of Caterpillar from $255.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, July 7th. Citigroup raised their price target on shares of Caterpillar to $195.00 in a report on Monday, August 15th. Wells Fargo & Company cut their price target on shares of Caterpillar from $230.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Caterpillar from $250.00 to $205.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. One 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.38.

Caterpillar Stock Performance

Caterpillar stock opened at $170.55 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.45 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $90.04 billion, a PE ratio of 13.64, a P/E/G ratio of 1.13 and a beta of 1.02. The firm has a fifty day simple moving average of $186.16 and a two-hundred day simple moving average of $200.88. Caterpillar Inc. has a twelve month low of $167.08 and a twelve month high of $237.90.

Caterpillar (NYSE:CATGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.18. Caterpillar had a net margin of 12.50% and a return on equity of 37.29%. The firm had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the previous year, the company earned $2.60 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts expect that Caterpillar Inc. will post 12.64 EPS for the current year.

Caterpillar Profile

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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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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