Fifth Third Bancorp Has $194.58 Million Stake in Caterpillar Inc. $CAT

Key Points

• Fifth Third Bancorp reduced its stake in Caterpillar Inc. by 1.5%, owning approximately $194.58 million worth of shares after selling 7,598 shares in the second quarter.
• Several institutional investors, including UBS AM and GAMMA Investing LLC, significantly increased their stakes in Caterpillar, with GAMMA's stake rising by 43,447.3%.
• Caterpillar's recent earnings report showed an EPS of $4.72, missing consensus estimates, while quarterly revenue was $16.57 billion, exceeding expectations.

Fifth Third Bancorp trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 501,210 shares of the industrial products company's stock after selling 7,598 shares during the period. Fifth Third Bancorp owned about 0.11% of Caterpillar worth $194,575,000 as of its most recent SEC filing.

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

Caterpillar Stock Performance

Shares of CAT stock opened at $471.77 on Wednesday. The company has a market capitalization of $221.02 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 2.87 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company has a 50-day simple moving average of $427.87 and a 200 day simple moving average of $371.09. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $485.34.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. DA Davidson lifted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Robert W. Baird lifted their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Jefferies Financial Group restated a "buy" rating and set a $500.00 price objective on shares of Caterpillar in a research note on Friday, August 29th. Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective on the stock in a research note on Tuesday, August 19th. Finally, Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and an average target price of $464.33.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction 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 represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,819 shares of company stock valued at $16,885,492. Company insiders own 0.33% of the company's stock.

Caterpillar Company 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.

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