Iowa State Bank decreased its position in shares of Caterpillar, Inc. (NYSE:CAT) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,362 shares of the industrial products company’s stock after selling 400 shares during the quarter. Iowa State Bank’s holdings in Caterpillar were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of CAT. FMR LLC grew its holdings in shares of Caterpillar by 11.4% during the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock valued at $1,628,992,000 after buying an additional 1,798,312 shares during the last quarter. Renaissance Technologies LLC bought a new position in Caterpillar during the first quarter valued at approximately $143,490,000. Morgan Stanley lifted its position in Caterpillar by 15.1% during the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after purchasing an additional 1,365,856 shares during the period. Vanguard Group Inc. lifted its position in Caterpillar by 3.6% during the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock valued at $3,603,500,000 after purchasing an additional 1,342,984 shares during the period. Finally, Cibc World Markets Corp lifted its position in Caterpillar by 507.9% during the first quarter. Cibc World Markets Corp now owns 1,276,465 shares of the industrial products company’s stock valued at $118,405,000 after purchasing an additional 1,066,492 shares during the period. Hedge funds and other institutional investors own 69.24% of the company’s stock.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the transaction, the insider now directly owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock valued at $22,979,332 in the last three months. 0.15% of the stock is currently owned by insiders.
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Caterpillar, Inc. (CAT) opened at 124.43 on Friday. The stock has a market capitalization of $73.53 billion, a PE ratio of 695.14 and a beta of 1.24. Caterpillar, Inc. has a 1-year low of $80.33 and a 1-year high of $125.42. The company’s 50 day moving average is $116.33 and its 200-day moving average is $105.20.
Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Caterpillar’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts forecast that Caterpillar, Inc. will post $5.25 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on CAT shares. BidaskClub upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Seaport Global Securities started coverage on shares of Caterpillar in a research report on Wednesday, September 6th. They set a “neutral” rating and a $120.00 price objective on the stock. Axiom Securities restated a “sell” rating on shares of Caterpillar in a research report on Tuesday, June 6th. Wells Fargo & Company restated an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Finally, Vetr downgraded shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 price target on the stock. in a research report on Tuesday, August 22nd. Two 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 stock. The company presently has a consensus rating of “Hold” and an average price target of $114.03.
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