Sumitomo Mitsui DS Asset Management Company Ltd Has $119.05 Million Holdings in Caterpillar Inc. $CAT

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Caterpillar Inc. by 5.4%, owning 306,650 shares valued at $119 million, marking it as the firm's 14th biggest holding.
• Multiple large investors significantly boosted their stakes in Caterpillar, including GAMMA Investing LLC, which raised its position by an astonishing 43,447.3%.
• Analysts have positively upgraded Caterpillar's stock, with reports indicating price targets ranging from $388 to $540 and a consensus rating of "Moderate Buy".

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 306,650 shares of the industrial products company's stock after acquiring an additional 15,820 shares during the period. Caterpillar makes up about 1.1% of Sumitomo Mitsui DS Asset Management Company Ltd's portfolio, making the stock its 14th biggest position. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.07% of Caterpillar worth $119,045,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Caterpillar by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock worth $1,386,626,000 after acquiring an additional 264,054 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after buying an additional 3,721,693 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after purchasing an additional 15,347 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock valued at $1,064,951,000 after acquiring an additional 268,300 shares during the period. Finally, Invesco Ltd. lifted its holdings in Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock valued at $1,036,211,000 after acquiring an additional 150,533 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Down 0.1%

CAT stock traded down $0.34 during mid-day trading on Friday, hitting $466.62. The stock had a trading volume of 5,066,694 shares, compared to its average volume of 2,369,601. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $472.12. The company has a fifty day moving average of $425.21 and a 200 day moving average of $369.34. The stock has a market capitalization of $218.60 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.84 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $5.99 earnings per share. On average, equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. DA Davidson upped their price target on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $460.20.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.