Ropes Wealth Advisors LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,128 shares of the industrial products company’s stock after selling 185 shares during the period. Ropes Wealth Advisors LLC’s holdings in Caterpillar were worth $1,517,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Paragon Capital Management LLC acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $40,000. Legacy Advisors LLC acquired a new stake in shares of Caterpillar in the first quarter valued at approximately $47,000. Sound Income Strategies LLC lifted its position in shares of Caterpillar by 23.5% in the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after buying an additional 72 shares during the last quarter. Exane Derivatives acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $54,000. Finally, JNBA Financial Advisors increased its stake in shares of Caterpillar by 33.3% during the second quarter. JNBA Financial Advisors now owns 400 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 100 shares during the period. 66.86% of the stock is owned by institutional investors.

Caterpillar stock traded up $3.25 during mid-day trading on Tuesday, reaching $119.97. 2,751,410 shares of the company were exchanged, compared to its average volume of 4,669,214. The firm’s fifty day simple moving average is $132.07. Caterpillar Inc. has a 12 month low of $112.06 and a 12 month high of $159.37. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 1.66. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.85 and a beta of 1.52.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The company had revenue of $14.43 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter last year, the business earned $2.97 EPS. Caterpillar’s revenue was up 3.0% on a year-over-year basis. As a group, research analysts expect that Caterpillar Inc. will post 11.73 EPS for the current year.

A number of brokerages have recently weighed in on CAT. Morgan Stanley lowered their target price on Caterpillar from $165.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Goldman Sachs Group lowered Caterpillar from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $156.00 to $130.00 in a research note on Wednesday, August 7th. Buckingham Research lowered Caterpillar from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $162.00 to $140.00 in a research note on Thursday, July 25th. ValuEngine lowered Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lowered their target price on Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $142.99.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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