Morningstar Investment Services LLC acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 53,596 shares of the industrial products company’s stock, valued at approximately $7,305,000.
A number of other hedge funds also recently added to or reduced their stakes in CAT. Wesleyan Assurance Society boosted its position in shares of Caterpillar by 19.7% in the second quarter. Wesleyan Assurance Society now owns 120,250 shares of the industrial products company’s stock valued at $16,392,000 after acquiring an additional 19,750 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Caterpillar by 170.6% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 14,518 shares of the industrial products company’s stock worth $344,000 after purchasing an additional 9,152 shares in the last quarter. MML Investors Services LLC raised its stake in Caterpillar by 1.0% in the 2nd quarter. MML Investors Services LLC now owns 76,316 shares of the industrial products company’s stock worth $10,401,000 after purchasing an additional 752 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Caterpillar by 15.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 744,104 shares of the industrial products company’s stock worth $101,414,000 after purchasing an additional 101,299 shares in the last quarter. Finally, RBF Capital LLC boosted its holdings in Caterpillar by 13.3% in the 2nd quarter. RBF Capital LLC now owns 17,000 shares of the industrial products company’s stock valued at $2,317,000 after purchasing an additional 2,000 shares during the period. 65.07% of the stock is owned by hedge funds and other institutional investors.
CAT traded up $1.46 during trading on Wednesday, hitting $131.75. 575,538 shares of the stock traded hands, compared to its average volume of 3,609,136. The business has a 50 day moving average price of $121.89 and a 200 day moving average price of $130.48. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.43 and a quick ratio of 1.00. Caterpillar Inc. has a twelve month low of $111.75 and a twelve month high of $159.37. The company has a market cap of $72.90 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.90 and a beta of 1.54.
CAT has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a research report on Tuesday, June 4th. Standpoint Research upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Macquarie set a $115.00 price target on Caterpillar and gave the company a “sell” rating in a research note on Tuesday, June 11th. Buckingham Research downgraded Caterpillar from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $162.00 to $140.00 in a research report on Thursday, July 25th. Finally, Bank of America restated a “buy” rating and set a $145.00 price objective (down previously from $150.00) on shares of Caterpillar in a research note on Monday. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $139.56.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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