Morningstar Investment Services LLC bought a new stake in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,596 shares of the industrial products company’s stock, valued at approximately $7,305,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sound Income Strategies LLC lifted its stake 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 in the last quarter. First Merchants Corp raised its holdings in shares of Caterpillar by 0.4% in the 2nd quarter. First Merchants Corp now owns 20,577 shares of the industrial products company’s stock worth $2,804,000 after acquiring an additional 75 shares during the last quarter. LexAurum Advisors LLC lifted its position in Caterpillar by 4.7% in the 2nd quarter. LexAurum Advisors LLC now owns 1,700 shares of the industrial products company’s stock valued at $232,000 after acquiring an additional 77 shares in the last quarter. Claro Advisors LLC lifted its position in Caterpillar by 3.5% in the 2nd quarter. Claro Advisors LLC now owns 2,341 shares of the industrial products company’s stock valued at $319,000 after acquiring an additional 79 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its stake in Caterpillar by 11.0% during the 1st quarter. Oakworth Capital Inc. now owns 808 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 65.07% of the company’s stock.

CAT has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “hold” rating on shares of Caterpillar in a report on Wednesday, August 14th. Buckingham Research lowered Caterpillar from a “buy” rating to a “neutral” rating and dropped their target price for the company from $162.00 to $140.00 in a report on Thursday, July 25th. Standpoint Research upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Wells Fargo & Co cut their target price on Caterpillar from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Bank of America reiterated a “buy” rating and set a $145.00 price target (down previously from $150.00) on shares of Caterpillar in a report on Monday. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $139.56.

Shares of CAT traded up $1.46 on Wednesday, reaching $131.75. 575,538 shares of the company’s stock traded hands, compared to its average volume of 3,609,136. The stock’s 50 day simple moving average is $121.89 and its two-hundred day simple moving average is $130.48. The stock has a market cap of $72.90 billion, a PE ratio of 11.74, a PEG ratio of 0.90 and a beta of 1.54. Caterpillar Inc. has a 52-week low of $111.75 and a 52-week 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.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.12 by ($0.29). The business had revenue of $14.43 billion during the quarter, compared to analysts’ expectations of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.97 EPS. Analysts forecast that Caterpillar Inc. will post 11.74 earnings per share for the current year.

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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