Caterpillar Inc. $CAT Shares Purchased by State Street Corp

State Street Corp increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,276,960 shares of the industrial products company’s stock after buying an additional 1,396,356 shares during the period. Caterpillar comprises 0.7% of State Street Corp’s investment portfolio, making the stock its 22nd largest holding. State Street Corp owned approximately 7.89% of Caterpillar worth $37,120,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Decker Retirement Planning Inc. grew its stake in Caterpillar by 440.0% during the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 22 shares in the last quarter. Matrix Trust Co raised its position in Caterpillar by 93.8% in the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 15 shares in the last quarter. Axiom Investment Management LLC purchased a new position in shares of Caterpillar in the 2nd quarter valued at about $36,000. Lam Group Inc. acquired a new position in shares of Caterpillar during the first quarter worth about $26,000. Finally, Tacita Capital Inc purchased a new stake in shares of Caterpillar during the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the subject of a number of recent research reports. Erste Group Bank downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Needham & Company LLC set a $980.00 price objective on shares of Caterpillar in a report on Thursday, September 10th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $1,002.00 price objective on shares of Caterpillar in a research report on Wednesday, August 5th. Freedom Broker upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 target price for the company in a research note on Thursday, September 10th. Finally, Citigroup reissued a “buy” rating on shares of Caterpillar in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $994.17.

Insider Transactions at Caterpillar

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the transaction, the chief executive officer owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Down 1.3%

CAT stock traded down $10.72 during midday trading on Tuesday, reaching $805.78. 829,179 shares of the company were exchanged, compared to its average volume of 2,844,085. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. Caterpillar Inc. has a 1-year low of $459.58 and a 1-year high of $1,073.46. The stock’s 50-day simple moving average is $835.41 and its 200 day simple moving average is $842.79. The company has a market cap of $370.39 billion, a price-to-earnings ratio of 34.73, a price-to-earnings-growth ratio of 1.40 and a beta of 1.60.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The business had revenue of $20.54 billion during the quarter, compared to analysts’ expectations of $19.34 billion. During the same quarter in the prior year, the business posted $4.72 EPS. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 27.37 earnings per share for the current year.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction, mining, and industrial equipment. The company’s products include excavators, dozers, wheel loaders, motor graders, articulated trucks, and off-highway trucks, as well as related attachments and work tools. Caterpillar also supplies replacement parts, equipment services, technology solutions, and rental support through its dealer network.

The company serves customers in construction, mining, quarrying, energy, transportation, forestry, agriculture, and government-related industries.