Folger Nolan Fleming Douglas Capital Management Inc. Cuts Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CATGet Rating) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,307 shares of the industrial products company’s stock after selling 210 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Caterpillar were worth $6,490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Home Federal Bank of Tennessee grew its holdings in shares of Caterpillar by 5.0% during the second quarter. Home Federal Bank of Tennessee now owns 2,109 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 100 shares in the last quarter. Sigma Investment Counselors Inc. grew its holdings in shares of Caterpillar by 1.2% during the second quarter. Sigma Investment Counselors Inc. now owns 28,019 shares of the industrial products company’s stock worth $5,009,000 after purchasing an additional 340 shares in the last quarter. McKinley Carter Wealth Services Inc. boosted its stake in Caterpillar by 3.5% in the second quarter. McKinley Carter Wealth Services Inc. now owns 9,184 shares of the industrial products company’s stock worth $1,642,000 after buying an additional 312 shares in the last quarter. Westshore Wealth LLC boosted its stake in Caterpillar by 20.4% in the second quarter. Westshore Wealth LLC now owns 1,134 shares of the industrial products company’s stock worth $203,000 after buying an additional 192 shares in the last quarter. Finally, Ignite Planners LLC boosted its stake in Caterpillar by 1.2% in the second quarter. Ignite Planners LLC now owns 8,526 shares of the industrial products company’s stock worth $1,537,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 68.80% of the company’s stock.

Caterpillar Trading Down 4.6 %

Shares of Caterpillar stock traded down $7.92 during midday trading on Friday, reaching $162.63. 189,043 shares of the company’s stock traded hands, compared to its average volume of 2,422,951. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.90 and a current ratio of 1.45. The company has a market cap of $85.85 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.13 and a beta of 1.02. The stock has a 50 day moving average of $186.16 and a 200-day moving average of $200.88. Caterpillar Inc. has a 12 month low of $167.08 and a 12 month high of $237.90.

Caterpillar (NYSE:CATGet Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.18. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.39 billion. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.60 earnings per share. As a group, equities analysts expect that Caterpillar Inc. will post 12.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on CAT shares. JPMorgan Chase & Co. cut their target price on Caterpillar from $250.00 to $205.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Cowen cut their target price on Caterpillar from $255.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, July 7th. Cowen cut their target price on Caterpillar from $255.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, July 7th. UBS Group lowered their price objective on Caterpillar from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Finally, StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.38.

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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