Glenview Trust co lowered its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 68,462 shares of the industrial products company's stock after selling 1,938 shares during the quarter. Glenview Trust co's holdings in Caterpillar were worth $22,579,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CAT. Investment Management Corp VA ADV bought a new position in shares of Caterpillar in the 4th quarter worth approximately $33,000. Curat Global LLC bought a new position in Caterpillar during the 1st quarter valued at approximately $33,000. Redmont Wealth Advisors LLC bought a new position in Caterpillar during the 1st quarter valued at approximately $33,000. Mpwm Advisory Solutions LLC bought a new position in Caterpillar during the 4th quarter valued at approximately $36,000. Finally, Mattson Financial Services LLC bought a new position in Caterpillar during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.98% of the company's stock.
Caterpillar Trading Up 1.0%
NYSE CAT traded up $4.39 during trading hours on Monday, hitting $435.91. 993,643 shares of the company were exchanged, compared to its average volume of 2,721,240. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15. The stock has a 50-day moving average price of $420.04 and a 200 day moving average price of $365.49. The stock has a market cap of $204.21 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.
Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same quarter last year, the firm earned $5.99 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. Analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several brokerages have commented on CAT. Bank of America increased their target price on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Oppenheimer cut their target price on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Robert W. Baird cut their target price on Caterpillar from $500.00 to $495.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. raised their price target on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Two 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 company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $457.20.
View Our Latest Analysis on Caterpillar
Insider Buying and Selling at Caterpillar
In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock worth $8,943,642 over the last 90 days. Company insiders own 0.33% of the company's stock.
Caterpillar Company Profile
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Free Report)
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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