Caterpillar, Inc. (CAT) Holdings Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in Caterpillar, Inc. (NYSE:CAT) by 60.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,000 shares of the industrial products company’s stock after selling 390,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Caterpillar were worth $26,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbour Capital Advisors LLC purchased a new stake in Caterpillar in the 1st quarter worth approximately $107,000. First Personal Financial Services lifted its stake in Caterpillar by 167.4% in the 1st quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 750 shares in the last quarter. Harfst & Associates Inc. purchased a new stake in Caterpillar in the 1st quarter worth approximately $111,000. Financial Architects Inc lifted its stake in Caterpillar by 5.7% in the 1st quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 65 shares in the last quarter. Finally, Reilly Financial Advisors LLC lifted its stake in Caterpillar by 92.9% in the 2nd quarter. Reilly Financial Advisors LLC now owns 1,111 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 535 shares in the last quarter. Institutional investors and hedge funds own 69.23% of the company’s stock.

In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the transaction, the insider now owns 18,188 shares in the company, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock worth $22,979,332 in the last quarter. Company insiders own 0.15% of the company’s stock.

Several analysts have issued reports on the stock. Credit Suisse Group reiterated a “buy” rating and issued a $123.00 target price on shares of Caterpillar in a research note on Thursday, June 22nd. Bank of America Corporation set a $120.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $122.53 target price on the stock. in a research note on Monday. Stifel Nicolaus reiterated a “hold” rating and issued a $125.00 target price on shares of Caterpillar in a research note on Sunday, July 30th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $110.00 target price on shares of Caterpillar in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $110.79.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Markets Daily and is owned by of Markets Daily. If you are reading this piece on another website, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2017/09/13/caterpillar-inc-cat-holdings-cut-by-state-of-new-jersey-common-pension-fund-d.html.

Shares of Caterpillar, Inc. (NYSE CAT) opened at 120.94 on Wednesday. The firm has a 50-day moving average of $114.83 and a 200-day moving average of $104.09. Caterpillar, Inc. has a one year low of $79.93 and a one year high of $121.39. The company has a market cap of $71.47 billion, a price-to-earnings ratio of 675.64 and a beta of 1.24.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts forecast that Caterpillar, Inc. will post $5.24 EPS for the current fiscal year.

Caterpillar Company Profile

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply