Cresset Asset Management LLC Increases Stake in Caterpillar Inc. (NYSE:CAT)

Cresset Asset Management LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 56.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,956 shares of the industrial products company’s stock after acquiring an additional 8,609 shares during the period. Cresset Asset Management LLC’s holdings in Caterpillar were worth $5,213,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Caterpillar by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,492,830 shares of the industrial products company’s stock valued at $3,360,452,000 after buying an additional 1,451,470 shares during the period. Capital International Investors grew its position in Caterpillar by 4.4% in the first quarter. Capital International Investors now owns 8,454,057 shares of the industrial products company’s stock valued at $1,960,242,000 after acquiring an additional 360,098 shares in the last quarter. Geode Capital Management LLC grew its position in Caterpillar by 2.8% in the first quarter. Geode Capital Management LLC now owns 8,331,794 shares of the industrial products company’s stock valued at $1,926,476,000 after acquiring an additional 229,934 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Caterpillar by 3.6% during the second quarter. Fisher Asset Management LLC now owns 6,643,352 shares of the industrial products company’s stock worth $1,445,793,000 after buying an additional 228,718 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Caterpillar by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 4,728,752 shares of the industrial products company’s stock worth $1,096,454,000 after buying an additional 41,741 shares in the last quarter. Institutional investors and hedge funds own 67.82% of the company’s stock.

Shares of Caterpillar stock opened at $202.44 on Friday. The firm has a market cap of $110.83 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 1.69 and a beta of 0.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.56 and a quick ratio of 1.10. Caterpillar Inc. has a 52-week low of $142.73 and a 52-week high of $246.69. The stock has a 50-day simple moving average of $210.17 and a 200-day simple moving average of $222.07.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, July 29th. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.22. The business had revenue of $12.89 billion during the quarter, compared to analyst estimates of $12.53 billion. Caterpillar had a return on equity of 30.80% and a net margin of 9.57%. The firm’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. As a group, equities research analysts predict that Caterpillar Inc. will post 10.08 earnings per share for the current year.

In related news, Director David Maclennan bought 500 shares of Caterpillar stock in a transaction that occurred on Wednesday, August 4th. The stock was purchased at an average cost of $206.20 per share, for a total transaction of $103,100.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

A number of analysts have recently weighed in on the stock. Credit Suisse Group decreased their price target on shares of Caterpillar from $268.00 to $256.00 and set an “outperform” rating for the company in a research report on Monday, August 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $264.00 price objective on shares of Caterpillar in a report on Thursday, May 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Caterpillar from $258.00 to $241.00 and set a “buy” rating for the company in a report on Monday, August 2nd. Zacks Investment Research cut Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 target price on the stock. in a research note on Wednesday, June 30th. Finally, Morgan Stanley cut their price objective on shares of Caterpillar from $181.00 to $172.00 and set an “underweight” rating on the stock in a research note on Monday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $233.80.

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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