Daiwa Securities Group Inc. lowered its holdings in Caterpillar, Inc. (NYSE:CAT) by 22.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,625 shares of the industrial products company’s stock after selling 47,907 shares during the period. Daiwa Securities Group Inc.’s holdings in Caterpillar were worth $17,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after acquiring an additional 1,342,984 shares during the last quarter. FMR LLC lifted its holdings in Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after acquiring an additional 1,798,312 shares during the last quarter. Morgan Stanley lifted its holdings in Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after acquiring an additional 1,365,856 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after acquiring an additional 1,047,922 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after acquiring an additional 419,191 shares during the last quarter. 69.23% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar, Inc. (NYSE CAT) opened at 119.63 on Thursday. The firm has a market cap of $70.70 billion, a price-to-earnings ratio of 668.32 and a beta of 1.24. Caterpillar, Inc. has a 52-week low of $80.23 and a 52-week high of $121.39. The firm has a 50-day moving average of $115.20 and a 200 day moving average of $104.28.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $10.96 billion. During the same period in the prior year, the business posted $1.09 earnings per share. Caterpillar’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Caterpillar, Inc. will post $5.24 earnings per share for the current year.

CAT has been the topic of a number of recent research reports. BidaskClub raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Seaport Global Securities started coverage on Caterpillar in a report on Wednesday, September 6th. They set a “neutral” rating and a $120.00 price target on the stock. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a report on Tuesday, June 6th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Finally, Vetr cut Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price target on the stock. in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $110.79.

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In related news, Director William A. Osborn sold 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total value of $568,350.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 18,188 shares in the company, valued at $2,078,888.40. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock worth $22,979,332 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

About Caterpillar

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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