Country Trust Bank Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Country Trust Bank grew its position in Caterpillar Inc. (NYSE:CATFree Report) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 188,581 shares of the industrial products company’s stock after purchasing an additional 12,267 shares during the period. Caterpillar accounts for 1.3% of Country Trust Bank’s holdings, making the stock its 25th largest position. Country Trust Bank’s holdings in Caterpillar were worth $46,400,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CAT. Moneta Group Investment Advisors LLC lifted its holdings in shares of Caterpillar by 130,632.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock worth $2,343,859,000 after acquiring an additional 9,776,533 shares during the last quarter. Norges Bank acquired a new position in shares of Caterpillar in the 4th quarter worth approximately $1,175,255,000. Gateway Advisory LLC acquired a new position in shares of Caterpillar in the 1st quarter worth approximately $4,004,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Caterpillar in the 1st quarter worth approximately $433,134,000. Finally, FMR LLC lifted its holdings in Caterpillar by 22.1% during the 1st quarter. FMR LLC now owns 5,665,888 shares of the industrial products company’s stock worth $1,296,582,000 after buying an additional 1,024,083 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Caterpillar Trading Up 0.7 %

Caterpillar stock traded up $2.04 during trading on Monday, reaching $281.19. The company had a trading volume of 745,452 shares, compared to its average volume of 3,074,981. Caterpillar Inc. has a 12-month low of $160.60 and a 12-month high of $293.88. The stock’s 50 day moving average price is $272.99 and its two-hundred day moving average price is $242.30. The firm has a market capitalization of $143.44 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.19 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.33.

Caterpillar (NYSE:CATGet Free Report) last released its earnings results on Tuesday, August 1st. The industrial products company reported $5.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.57 by $0.98. Caterpillar had a net margin of 12.91% and a return on equity of 55.93%. The firm had revenue of $17.30 billion during the quarter, compared to the consensus estimate of $16.46 billion. During the same period in the previous year, the firm earned $3.18 earnings per share. Caterpillar’s revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts expect that Caterpillar Inc. will post 19.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAT has been the topic of a number of research reports. Stifel Nicolaus increased their target price on shares of Caterpillar from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. DA Davidson began coverage on shares of Caterpillar in a report on Wednesday, June 21st. They issued a “neutral” rating and a $263.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Caterpillar from $240.00 to $285.00 and gave the company an “equal weight” rating in a report on Wednesday, August 2nd. Bank of America raised their price objective on shares of Caterpillar from $283.00 to $323.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, The Goldman Sachs Group increased their target price on shares of Caterpillar from $274.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $267.00.

View Our Latest Stock Report on Caterpillar

Insider Transactions at Caterpillar

In other news, insider Cheryl H. Johnson sold 18,294 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $286.33, for a total value of $5,238,121.02. Following the completion of the sale, the insider now owns 16,362 shares of the company’s stock, valued at approximately $4,684,931.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Cheryl H. Johnson sold 18,294 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $286.33, for a total transaction of $5,238,121.02. Following the completion of the sale, the insider now owns 16,362 shares of the company’s stock, valued at approximately $4,684,931.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anthony D. Fassino sold 2,923 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $279.00, for a total transaction of $815,517.00. Following the transaction, the insider now directly owns 16,182 shares of the company’s stock, valued at $4,514,778. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,918 shares of company stock valued at $15,299,870. Corporate insiders own 0.33% of the company’s stock.

About Caterpillar

(Free Report)

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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