897 Caterpillar Inc. $CAT Shares Acquired by Grove Street Fiduciary LLC

Grove Street Fiduciary LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 327.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,171 shares of the industrial products company’s stock after acquiring an additional 897 shares during the period. Grove Street Fiduciary LLC’s holdings in Caterpillar were worth $949,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Caterpillar during the second quarter valued at about $40,457,153,000. Bank of America Corp DE purchased a new stake in shares of Caterpillar during the 2nd quarter worth approximately $5,818,150,000. Diamant Asset Management Inc. boosted its stake in Caterpillar by 68,427.2% in the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock valued at $2,224,992,000 after acquiring an additional 3,136,020 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Caterpillar in the 2nd quarter valued at $3,192,710,000. Finally, Legal & General Group Plc acquired a new position in shares of Caterpillar in the second quarter valued at approximately $2,783,451,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the transaction, the chief executive officer directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on CAT shares. DA Davidson boosted their target price on Caterpillar from $845.00 to $882.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Sanford C. Bernstein reiterated a “market perform” rating and set a $1,002.00 price target on shares of Caterpillar in a report on Wednesday, August 5th. Freedom Broker raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 target price on the stock in a research report on Thursday, September 10th. Zacks Research downgraded shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Robert W. Baird set a $970.00 target price on Caterpillar in a research note on Wednesday, August 5th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $982.92.

Caterpillar Price Performance

Shares of NYSE:CAT traded down $39.38 during trading on Tuesday, reaching $759.99. The company had a trading volume of 1,848,988 shares, compared to its average volume of 2,805,360. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. The firm has a market capitalization of $349.35 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.58. The firm’s fifty day moving average is $821.64 and its 200 day moving average is $855.26. Caterpillar Inc. has a twelve month low of $499.01 and a twelve month high of $1,073.46.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.72 EPS. On average, equities analysts forecast that Caterpillar Inc. will post 27.49 EPS for the current year.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.