Country Trust Bank Grows Stake in Caterpillar, Inc. (NYSE:CAT)

Country Trust Bank lifted its stake in Caterpillar, Inc. (NYSE:CAT) by 0.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,449 shares of the industrial products company’s stock after buying an additional 40 shares during the period. Country Trust Bank’s holdings in Caterpillar were worth $19,821,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. NGAM Advisors L.P. increased its holdings in Caterpillar by 2.9% during the 2nd quarter. NGAM Advisors L.P. now owns 81,344 shares of the industrial products company’s stock valued at $8,742,000 after purchasing an additional 2,286 shares during the period. Bank of Nova Scotia increased its holdings in Caterpillar by 527.0% during the 1st quarter. Bank of Nova Scotia now owns 196,294 shares of the industrial products company’s stock valued at $18,208,000 after purchasing an additional 164,989 shares during the period. Bancorpsouth Inc. increased its holdings in Caterpillar by 1.2% during the 1st quarter. Bancorpsouth Inc. now owns 5,787 shares of the industrial products company’s stock valued at $537,000 after purchasing an additional 69 shares during the period. Point72 Asset Management L.P. purchased a new position in Caterpillar during the 1st quarter valued at about $46,917,000. Finally, State of Tennessee Treasury Department increased its holdings in Caterpillar by 58.4% during the 1st quarter. State of Tennessee Treasury Department now owns 288,338 shares of the industrial products company’s stock valued at $26,746,000 after purchasing an additional 106,270 shares during the period. Institutional investors own 69.24% of the company’s stock.

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Shares of Caterpillar, Inc. (NYSE:CAT) opened at 124.43 on Friday. The firm’s 50-day moving average is $116.33 and its 200-day moving average is $105.20. Caterpillar, Inc. has a 52 week low of $80.33 and a 52 week high of $125.42. The stock has a market capitalization of $73.53 billion, a price-to-earnings ratio of 695.14 and a beta of 1.24.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts forecast that Caterpillar, Inc. will post $5.25 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on CAT shares. BidaskClub upgraded Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Seaport Global Securities initiated coverage on Caterpillar in a report on Wednesday, September 6th. They set a “neutral” rating and a $120.00 price target on the stock. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a report on Tuesday, June 6th. Wells Fargo & Company reiterated an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Finally, Vetr downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 target price on the stock. in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $114.03.

In other news, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. Insiders have sold 201,471 shares of company stock valued at $22,979,332 over the last quarter. Insiders own 0.15% of the company’s stock.

Caterpillar Company Profile

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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