MEMBERS Trust Co Purchases 13,130 Shares of Caterpillar, Inc. (CAT)
MEMBERS Trust Co increased its position in shares of Caterpillar, Inc. (NYSE:CAT) by 40.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,636 shares of the industrial products company’s stock after acquiring an additional 13,130 shares during the quarter. Caterpillar makes up about 0.3% of MEMBERS Trust Co’s portfolio, making the stock its 16th biggest holding. MEMBERS Trust Co’s holdings in Caterpillar were worth $4,904,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in CAT. FMR LLC boosted its position in shares of Caterpillar by 11.4% during the 1st quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock valued at $1,628,992,000 after acquiring an additional 1,798,312 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Caterpillar during the 1st quarter valued at about $143,490,000. Morgan Stanley boosted its position in shares of Caterpillar by 15.1% during the 1st quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock valued at $964,579,000 after acquiring an additional 1,365,856 shares during the last quarter. Vanguard Group Inc. lifted its position in Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock valued at $3,603,500,000 after buying an additional 1,342,984 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Caterpillar in the second quarter valued at about $117,223,000. 69.24% of the stock is currently owned by hedge funds and other institutional investors.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of Caterpillar stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The disclosure for this sale can be found here. Insiders have sold a total of 201,471 shares of company stock worth $22,979,332 over the last 90 days. 0.14% of the stock is owned by company insiders.
A number of research analysts have commented on CAT shares. BidaskClub raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Seaport Global Securities started coverage on shares of Caterpillar in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $120.00 target price on the stock. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a research report on Wednesday, July 26th. Vetr cut shares of Caterpillar from a “buy” rating to a “hold” rating and set a $120.03 target price on the stock. in a research report on Tuesday, August 22nd. Finally, Credit Suisse Group set a $123.00 target price on shares of Caterpillar and gave the company a “buy” rating in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $114.03.
Caterpillar, Inc. (NYSE:CAT) opened at 126.74 on Thursday. Caterpillar, Inc. has a one year low of $80.33 and a one year high of $127.09. The firm has a market capitalization of $74.90 billion, a P/E ratio of 708.04 and a beta of 1.26. The company has a 50-day moving average price of $119.86 and a 200-day moving average price of $107.63.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. On average, equities research analysts anticipate that Caterpillar, Inc. will post $5.25 EPS for the current year.
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