Morningstar Investment Services LLC Purchases Shares of 53,596 Caterpillar Inc. (NYSE:CAT)

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.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The business had revenue of $14.43 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same period in the prior year, the business posted $2.97 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 11.74 earnings per share for the current year.

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 Profile

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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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