Gradient Investments LLC lifted its holdings in Caterpillar Inc. (NYSE:CAT – Get Rating) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,936 shares of the industrial products company’s stock after buying an additional 169 shares during the quarter. Gradient Investments LLC’s holdings in Caterpillar were worth $877,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Capital World Investors boosted its position in Caterpillar by 51.7% during the first quarter. Capital World Investors now owns 20,124,623 shares of the industrial products company’s stock worth $4,484,176,000 after purchasing an additional 6,861,936 shares in the last quarter. Norges Bank purchased a new stake in Caterpillar during the fourth quarter worth $1,103,021,000. Ontario Teachers Pension Plan Board purchased a new stake in Caterpillar during the first quarter worth $433,134,000. BlackRock Inc. boosted its position in Caterpillar by 2.7% during the first quarter. BlackRock Inc. now owns 37,494,751 shares of the industrial products company’s stock worth $8,354,582,000 after purchasing an additional 992,608 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Caterpillar by 1.4% during the first quarter. Vanguard Group Inc. now owns 48,223,787 shares of the industrial products company’s stock worth $10,745,224,000 after purchasing an additional 663,885 shares in the last quarter. 68.80% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have commented on the company. UBS Group decreased their target price on Caterpillar from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Cowen decreased their target price on Caterpillar from $255.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, July 7th. JPMorgan Chase & Co. cut their price target on Caterpillar from $250.00 to $205.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Citigroup boosted their price target on Caterpillar to $195.00 in a report on Monday, August 15th. Finally, Credit Suisse Group boosted their price target on Caterpillar from $226.00 to $236.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.38.
Caterpillar Stock Performance
Caterpillar (NYSE:CAT – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 EPS for the quarter, topping the consensus estimate of $3.00 by $0.18. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.39 billion. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 12.65 earnings per share for the current year.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.
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