Caterpillar Inc. (NYSE:CAT) Shares Sold by Morningstar Investment Services LLC

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Morningstar Investment Services LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% during the second quarter, HoldingsChannel.com reports. The firm owned 143,879 shares of the industrial products company’s stock after selling 4,166 shares during the period. Morningstar Investment Services LLC’s holdings in Caterpillar were worth $18,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Diversified Trust Co purchased a new position in shares of Caterpillar in the 2nd quarter valued at about $334,000. Private Ocean LLC lifted its stake in Caterpillar by 62.9% in the first quarter. Private Ocean LLC now owns 259 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Korea Investment CORP grew its holdings in Caterpillar by 13.1% during the 1st quarter. Korea Investment CORP now owns 480,936 shares of the industrial products company’s stock worth $55,808,000 after acquiring an additional 55,542 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Caterpillar by 10.0% in the 2nd quarter. Raymond James Trust N.A. now owns 12,742 shares of the industrial products company’s stock valued at $1,612,000 after purchasing an additional 1,155 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Caterpillar by 24.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 118,400 shares of the industrial products company’s stock valued at $14,976,000 after purchasing an additional 23,110 shares during the last quarter. 66.80% of the stock is currently owned by institutional investors.

CAT traded down $3.85 on Friday, hitting $132.88. 6,782,180 shares of the company were exchanged, compared to its average volume of 2,742,059. Caterpillar Inc. has a fifty-two week low of $87.50 and a fifty-two week high of $150.55. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.97 and a current ratio of 1.42. The firm has a market capitalization of $71.92 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 2.20 and a beta of 1.10. The business’s fifty day moving average is $129.98 and its 200 day moving average is $123.93.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.37. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Caterpillar had a return on equity of 37.15% and a net margin of 10.41%. Caterpillar’s revenue was down 30.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.83 earnings per share. Analysts forecast that Caterpillar Inc. will post 5.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, July 20th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.10%. The ex-dividend date is Friday, July 17th. Caterpillar’s payout ratio is 37.25%.

A number of equities analysts recently commented on the stock. BofA Securities upgraded shares of Caterpillar from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 8th. Barclays reaffirmed a “hold” rating and set a $140.00 price objective on shares of Caterpillar in a research report on Thursday, April 16th. JPMorgan Chase & Co. set a $150.00 target price on Caterpillar and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Stephens lowered their price target on Caterpillar from $100.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, April 9th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and set a $93.00 price target on the stock. in a research note on Monday, April 27th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. Caterpillar currently has a consensus rating of “Hold” and an average price target of $135.22.

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.

Read More: Initial Coin Offering (ICO)

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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