Corundum Group Inc. Has $1.30 Million Stock Holdings in Caterpillar Inc. $CAT

Corundum Group Inc. increased its position in Caterpillar Inc. (NYSE:CAT) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,345 shares of the industrial products company’s stock after purchasing an additional 63 shares during the quarter. Corundum Group Inc.’s holdings in Caterpillar were worth $1,299,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CAT. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter valued at about $579,000. Brighton Jones LLC boosted its stake in Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after purchasing an additional 2,519 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Caterpillar by 5.9% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,460 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 81 shares during the last quarter. Beacon Financial Group boosted its stake in Caterpillar by 4.1% during the 1st quarter. Beacon Financial Group now owns 1,284 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 51 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Caterpillar by 5.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,187 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 64 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

Caterpillar stock opened at $498.48 on Friday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $504.48. The company’s 50 day moving average price is $436.99 and its two-hundred day moving average price is $378.48. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The stock has a market cap of $233.53 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.98 and a beta of 1.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm posted $5.99 EPS. On average, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,819 shares of company stock valued at $16,885,492. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CAT shares. Citigroup reiterated a “buy” rating on shares of Caterpillar in a research note on Tuesday, September 23rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Oppenheimer lifted their price target on Caterpillar from $480.00 to $513.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. JPMorgan Chase & Co. lifted their target price on shares of Caterpillar from $475.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Finally, Bank of America lifted their target price on shares of Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $466.53.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.