Glenview State Bank Trust DEPT. Sells 350 Shares of Caterpillar Inc. (NYSE:CAT)

Glenview State Bank Trust DEPT. cut its stake in Caterpillar Inc. (NYSE:CAT) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,965 shares of the industrial products company’s stock after selling 350 shares during the period. Caterpillar accounts for approximately 3.0% of Glenview State Bank Trust DEPT.’s investment portfolio, making the stock its 10th largest holding. Glenview State Bank Trust DEPT.’s holdings in Caterpillar were worth $7,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of 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 purchasing an additional 321,277 shares in the last quarter. Sanders Capital LLC grew its stake in shares of 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 purchasing an additional 1,496,100 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of 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 purchasing an additional 314,442 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 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 purchasing an additional 15,061 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of 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 purchasing an additional 37,800 shares in the last quarter. 65.80% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on CAT shares. Buckingham Research cut Caterpillar from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $162.00 to $140.00 in a research note on Thursday, July 25th. Standpoint Research raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Wells Fargo & Co decreased their price target on Caterpillar from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Macquarie set a $115.00 price target on Caterpillar and gave the stock a “sell” rating in a research note on Tuesday, June 11th. Finally, UBS Group decreased their price target on Caterpillar from $125.00 to $115.00 and set a “sell” rating for the company in a research note on Tuesday, June 4th. 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. The stock has an average rating of “Hold” and a consensus target price of $144.23.

Shares of CAT stock opened at $122.08 on Wednesday. The company’s 50-day moving average price is $133.65. Caterpillar Inc. has a fifty-two week low of $112.06 and a fifty-two week high of $159.37. The company has a market capitalization of $71.22 billion, a PE ratio of 10.88, a P/E/G ratio of 0.88 and a beta of 1.52. 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 (NYSE:CAT) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $14.43 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the prior year, the business earned $2.97 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Caterpillar Inc. will post 11.73 EPS for the current year.

Caterpillar Company 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.

Featured Article: Does a trade war provide a risk to the global economy?

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.