Grove Street Fiduciary LLC Purchases 897 Shares of Caterpillar Inc. $CAT

Grove Street Fiduciary LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 327.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,171 shares of the industrial products company’s stock after buying an additional 897 shares during the quarter. Grove Street Fiduciary LLC’s holdings in Caterpillar were worth $949,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CAT. BlackRock Inc. acquired a new position in shares of Caterpillar in the second quarter valued at approximately $40,457,153,000. State Street Corp boosted its stake in Caterpillar by 4.0% in the second quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock valued at $37,120,529,000 after buying an additional 1,396,356 shares in the last quarter. Bank of America Corp DE acquired a new position in Caterpillar during the 2nd quarter worth approximately $5,818,150,000. Diamant Asset Management Inc. increased its holdings in Caterpillar by 68,427.2% in the 1st quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock worth $2,224,992,000 after purchasing an additional 3,136,020 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Caterpillar by 2.3% in the 4th quarter. Invesco Ltd. now owns 3,031,666 shares of the industrial products company’s stock valued at $1,736,750,000 after buying an additional 68,770 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the transaction, the chief executive officer owned 34,555 shares of the company’s stock, valued at $27,954,303.90. The trade was a 48.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 4.9%

CAT traded down $39.38 during midday trading on Tuesday, reaching $759.99. 1,848,988 shares of the company’s stock traded hands, compared to its average volume of 2,805,360. The firm has a fifty day moving average of $821.64 and a two-hundred day moving average of $855.26. Caterpillar Inc. has a 52 week low of $499.01 and a 52 week high of $1,073.46. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85. The stock has a market capitalization of $349.35 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 1.38 and a beta of 1.58.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $6.22 by $1.95. The business had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.72 earnings per share. On average, equities analysts anticipate that Caterpillar Inc. will post 27.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAT has been the subject of several recent analyst reports. Freedom Broker raised Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 target price for the company in a research note on Thursday, September 10th. President Capital initiated coverage on shares of Caterpillar in a report on Friday, September 18th. They set a “buy” rating and a $999.00 price objective on the stock. Royal Bank Of Canada raised their price target on shares of Caterpillar from $877.00 to $897.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their target price on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 23rd. Finally, UBS Group upped their price objective on shares of Caterpillar from $900.00 to $925.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $982.92.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.