Maryland State Retirement & Pension System Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

Maryland State Retirement & Pension System cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 39,454 shares of the industrial products company’s stock after selling 1,745 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Caterpillar were worth $9,708,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CAT. Horan Securities Inc. grew its holdings in shares of Caterpillar by 678.6% in the first quarter. Horan Securities Inc. now owns 109 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 95 shares during the last quarter. West Financial Advisors LLC purchased a new stake in Caterpillar during the 2nd quarter valued at $25,000. Atlas Capital Advisors LLC grew its holdings in Caterpillar by 272.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 95 shares during the period. Finally, TFC Financial Management Inc. raised its stake in shares of Caterpillar by 470.8% during the first quarter. TFC Financial Management Inc. now owns 137 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 113 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of CAT opened at $279.15 on Friday. The firm has a fifty day simple moving average of $272.99 and a two-hundred day simple moving average of $242.34. The firm has a market cap of $142.39 billion, a PE ratio of 17.37, a P/E/G ratio of 1.16 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. Caterpillar Inc. has a 1-year low of $160.60 and a 1-year high of $293.88.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $5.55 EPS for the quarter, topping the consensus estimate of $4.57 by $0.98. Caterpillar had a return on equity of 55.93% and a net margin of 12.91%. The company had revenue of $17.30 billion during the quarter, compared to analyst estimates of $16.46 billion. During the same quarter in the previous year, the company posted $3.18 earnings per share. Caterpillar’s revenue was up 21.4% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 19.82 EPS for the current year.

Insider Activity

In related news, insider Lange Bob De sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total value of $5,500,000.00. Following the transaction, the insider now owns 53,671 shares of the company’s stock, valued at $14,759,525. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Caterpillar news, insider Lange Bob De sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total value of $5,500,000.00. Following the transaction, the insider now directly owns 53,671 shares in the company, valued at $14,759,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 6,415 shares of Caterpillar stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $260.00, for a total transaction of $1,667,900.00. Following the transaction, the insider now owns 16,362 shares in the company, valued at approximately $4,254,120. The disclosure for this sale can be found here. Insiders sold 54,918 shares of company stock valued at $15,299,870 in the last quarter. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of research analyst reports. DA Davidson initiated coverage on Caterpillar in a report on Wednesday, June 21st. They set a “neutral” rating and a $263.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Caterpillar from $275.00 to $315.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Barclays boosted their price objective on shares of Caterpillar from $225.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company raised their target price on shares of Caterpillar from $240.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 2nd. Finally, Robert W. Baird boosted their price target on Caterpillar from $183.00 to $234.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $267.00.

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.