Meyer Handelman Co. Trims Position in Caterpillar Inc. (NYSE:CAT)

Meyer Handelman Co. lowered its stake in shares of Caterpillar Inc. (NYSE:CATGet Rating) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,816 shares of the industrial products company’s stock after selling 400 shares during the period. Meyer Handelman Co.’s holdings in Caterpillar were worth $25,351,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Waypoint Capital Advisors LLC raised its stake in Caterpillar by 3.0% during the first quarter. Waypoint Capital Advisors LLC now owns 1,520 shares of the industrial products company’s stock worth $338,000 after purchasing an additional 44 shares during the period. Ballast Inc. raised its stake in shares of Caterpillar by 1.7% in the 1st quarter. Ballast Inc. now owns 2,880 shares of the industrial products company’s stock valued at $641,000 after acquiring an additional 47 shares during the period. Next Level Private LLC raised its stake in shares of Caterpillar by 3.9% in the 1st quarter. Next Level Private LLC now owns 1,267 shares of the industrial products company’s stock valued at $282,000 after acquiring an additional 47 shares during the period. Pacifica Partners Inc. raised its stake in shares of Caterpillar by 7.5% in the 1st quarter. Pacifica Partners Inc. now owns 715 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 50 shares during the period. Finally, Concord Wealth Partners raised its stake in shares of Caterpillar by 2.0% in the 1st quarter. Concord Wealth Partners now owns 2,544 shares of the industrial products company’s stock valued at $567,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 68.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price target 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. Sanford C. Bernstein lowered shares of Caterpillar from an “outperform” rating to a “market perform” rating and set a $195.00 price target for the company. in a report on Wednesday, August 3rd. Cowen decreased their price objective 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. Morgan Stanley decreased their price objective 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. Finally, Wells Fargo & Company decreased their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $223.38.

Caterpillar Price Performance

Shares of CAT stock traded down $7.38 during midday trading on Friday, reaching $163.17. 126,310 shares of the company were exchanged, compared to its average volume of 2,422,951. Caterpillar Inc. has a 12 month low of $167.08 and a 12 month high of $237.90. The company has a market cap of $86.14 billion, a P/E ratio of 13.42, a PEG ratio of 1.13 and a beta of 1.02. The company’s 50 day moving average price is $186.16 and its two-hundred day moving average price is $200.88. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.90 and a current ratio of 1.45.

Caterpillar (NYSE:CATGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 EPS for the quarter, topping 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 company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the previous year, the firm earned $2.60 EPS. Caterpillar’s revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that Caterpillar Inc. will post 12.64 earnings per share 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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