Tokio Marine Asset Management Co. Ltd. Cuts Position in Caterpillar Inc. (CAT)
Tokio Marine Asset Management Co. Ltd. cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 25.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,009 shares of the company’s stock after selling 6,033 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Caterpillar were worth $1,365,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CAT. Aspen Investment Management Inc increased its stake in shares of Caterpillar by 32.2% in the first quarter. Aspen Investment Management Inc now owns 4,924 shares of the company’s stock worth $377,000 after buying an additional 1,200 shares during the last quarter. Virginia Retirement System acquired a new stake in shares of Caterpillar during the first quarter worth approximately $1,320,000. BTC Capital Management Inc. increased its stake in shares of Caterpillar by 5.8% in the first quarter. BTC Capital Management Inc. now owns 34,960 shares of the company’s stock worth $2,675,000 after buying an additional 1,929 shares during the last quarter. Dynamic Advisors Solutions LLC increased its stake in shares of Caterpillar by 8.4% in the first quarter. Dynamic Advisors Solutions LLC now owns 7,741 shares of the company’s stock worth $592,000 after buying an additional 600 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new stake in shares of Caterpillar during the first quarter worth approximately $276,000. Institutional investors own 69.03% of the company’s stock.
Caterpillar Inc. (NYSE:CAT) traded down 0.55% on Monday, hitting $88.28. The company’s stock had a trading volume of 4,294,645 shares. The firm has a market cap of $51.58 billion, a price-to-earnings ratio of 58.85 and a beta of 1.54. Caterpillar Inc. has a 12 month low of $56.36 and a 12 month high of $89.19. The firm has a 50 day moving average of $83.25 and a 200 day moving average of $78.26.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The business’s revenue was down 16.0% on a year-over-year basis. Equities research analysts forecast that Caterpillar Inc. will post $3.50 earnings per share for the current fiscal year.
A number of analysts recently commented on CAT shares. RBC Capital Markets set a $73.00 price target on Caterpillar and gave the company a “hold” rating in a research report on Wednesday, July 27th. Morgan Stanley reaffirmed a “hold” rating and set a $67.00 price target on shares of Caterpillar in a research report on Thursday, July 28th. Zacks Investment Research downgraded Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. Citigroup Inc. set a $82.00 price target on Caterpillar and gave the company a “hold” rating in a research report on Tuesday, August 16th. Finally, Bank of America Corp. reissued a “hold” rating and issued a $92.00 target price on shares of Caterpillar in a research report on Monday. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $73.07.
In other Caterpillar news, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the transaction, the insider now owns 20,232 shares of the company’s stock, valued at approximately $1,673,793.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis A. Muilenburg acquired 1,930 shares of the company’s stock in a transaction on Friday, July 29th. The shares were bought at an average cost of $82.75 per share, with a total value of $159,707.50. Following the acquisition, the director now directly owns 9,558 shares in the company, valued at $790,924.50. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company’s stock.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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