Westpac Banking Corp Raises Position in Caterpillar Inc. (NYSE:CAT)

Westpac Banking Corp raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 63.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,091 shares of the industrial products company’s stock after acquiring an additional 36,962 shares during the quarter. Westpac Banking Corp’s holdings in Caterpillar were worth $12,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Slow Capital Inc. raised its position in shares of Caterpillar by 1.6% during the 2nd quarter. Slow Capital Inc. now owns 15,016 shares of the industrial products company’s stock valued at $2,046,000 after purchasing an additional 232 shares during the period. Dumont & Blake Investment Advisors LLC bought a new stake in shares of Caterpillar during the 2nd quarter valued at $457,000. Wedbush Securities Inc. raised its position in shares of Caterpillar by 8.0% during the 2nd quarter. Wedbush Securities Inc. now owns 17,002 shares of the industrial products company’s stock valued at $2,317,000 after purchasing an additional 1,255 shares during the period. Merriman Wealth Management LLC raised its position in shares of Caterpillar by 6.6% during the 2nd quarter. Merriman Wealth Management LLC now owns 1,620 shares of the industrial products company’s stock valued at $221,000 after purchasing an additional 100 shares during the period. Finally, Benin Management CORP raised its position in shares of Caterpillar by 2.8% during the 2nd quarter. Benin Management CORP now owns 3,783 shares of the industrial products company’s stock valued at $516,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 66.86% of the company’s stock.

NYSE CAT traded down $3.35 on Wednesday, reaching $115.66. The company had a trading volume of 362,645 shares, compared to its average volume of 4,408,910. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00. The stock has a market cap of $66.70 billion, a PE ratio of 10.33, a PEG ratio of 0.85 and a beta of 1.52. The stock’s 50 day moving average is $131.78. Caterpillar Inc. has a 12 month low of $112.06 and a 12 month high of $159.37.



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

Several brokerages have recently commented on CAT. Atlantic Securities downgraded shares of Caterpillar from a “neutral” rating to an “underweight” rating in a research report on Friday, June 21st. Credit Suisse Group decreased their price objective on shares of Caterpillar from $172.00 to $164.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Goldman Sachs Group downgraded shares of Caterpillar from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $156.00 to $130.00 in a research report on Wednesday, August 7th. Robert W. Baird decreased their price objective on shares of Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, UBS Group decreased their price objective on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a research report on Tuesday, June 4th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $141.89.

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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