Chemical Bank Sells 411 Shares of Caterpillar Inc. (NYSE:CAT)

Chemical Bank trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,590 shares of the industrial products company’s stock after selling 411 shares during the quarter. Chemical Bank’s holdings in Caterpillar were worth $3,896,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Caterpillar by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 7,022,665 shares of the industrial products company’s stock worth $890,658,000 after acquiring an additional 321,277 shares in the last quarter. Sanders Capital LLC boosted its holdings in Caterpillar by 31.5% in the second quarter. Sanders Capital LLC now owns 6,243,500 shares of the industrial products company’s stock worth $958,477,000 after acquiring an additional 1,496,100 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Caterpillar by 12.7% in the first quarter. Clearbridge Investments LLC now owns 2,794,952 shares of the industrial products company’s stock worth $378,688,000 after acquiring an additional 314,442 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Caterpillar by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,549,294 shares of the industrial products company’s stock worth $345,404,000 after acquiring an additional 15,061 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Caterpillar by 2.0% in the first quarter. Swiss National Bank now owns 1,969,716 shares of the industrial products company’s stock worth $266,877,000 after acquiring an additional 37,800 shares in the last quarter. 65.80% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the company. Macquarie set a $115.00 price target on Caterpillar and gave the company a “sell” rating in a report on Tuesday, June 11th. Standpoint Research raised Caterpillar from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Buckingham Research downgraded Caterpillar from a “buy” rating to a “neutral” rating and lowered their price target for the company from $162.00 to $140.00 in a report on Thursday, July 25th. Wells Fargo & Co lowered their price target on Caterpillar from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Atlantic Securities downgraded Caterpillar from a “neutral” rating to an “underweight” rating in a report on Friday, June 21st. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. Caterpillar presently has an average rating of “Hold” and an average target price of $144.23.

Caterpillar stock opened at $121.65 on Tuesday. The stock has a market capitalization of $69.57 billion, a PE ratio of 10.84, a PEG ratio of 0.88 and a beta of 1.52. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. Caterpillar Inc. has a one year low of $112.06 and a one year high of $159.37. The firm’s fifty day moving average price is $133.79.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). The firm had revenue of $14.43 billion for the quarter, compared to analysts’ expectations of $14.47 billion. Caterpillar had a net margin of 11.26% and a return on equity of 43.35%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.97 EPS. Equities research analysts anticipate that Caterpillar Inc. will post 11.73 EPS for the current fiscal year.

About Caterpillar

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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