State Street Corp Grows Holdings in Caterpillar Inc. $CAT

State Street Corp increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.0% in the second quarter, Holdings Channel reports. The firm owned 36,276,960 shares of the industrial products company’s stock after buying an additional 1,396,356 shares during the quarter. Caterpillar accounts for 0.7% of State Street Corp’s investment portfolio, making the stock its 22nd biggest holding. State Street Corp owned 0.08% of Caterpillar worth $37,120,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Lam Group Inc. purchased a new position in Caterpillar in the 1st quarter valued at $26,000. Decker Retirement Planning Inc. lifted its stake in shares of Caterpillar by 440.0% in the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 22 shares during the period. Cornerstone Financial Management LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at about $32,000. Matrix Trust Co increased its stake in shares of Caterpillar by 93.8% during the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 15 shares during the period. Finally, Monetary Solutions Ltd acquired a new position in shares of Caterpillar during the fourth quarter worth about $35,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

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

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share 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 analysts’ expectations of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.72 EPS. On average, equities analysts predict that Caterpillar Inc. will post 27.37 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $1,002.00 price objective on shares of Caterpillar in a report on Wednesday, August 5th. Citigroup reissued a “buy” rating on shares of Caterpillar in a report on Monday, September 14th. Erste Group Bank downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Oppenheimer reaffirmed an “outperform” rating and set a $1,118.00 price objective on shares of Caterpillar in a report on Tuesday, August 4th. Finally, UBS Group increased their price objective on Caterpillar from $900.00 to $925.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $994.17.

Insider Buying and Selling at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction on 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 completion of the transaction, the chief executive officer owned 34,555 shares of the company’s stock, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Company Profile

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.