Sandy Spring Bank boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 17.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,608 shares of the industrial products company’s stock after purchasing an additional 2,015 shares during the quarter. Sandy Spring Bank’s holdings in Caterpillar were worth $1,854,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Paragon Capital Management LLC purchased a new stake in shares of Caterpillar during the first quarter valued at approximately $40,000. Sound Income Strategies LLC lifted its position in Caterpillar by 23.5% during the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 72 shares during the period. Exane Derivatives bought a new position in Caterpillar during the second quarter valued at approximately $54,000. JNBA Financial Advisors lifted its position in Caterpillar by 33.3% during the second quarter. JNBA Financial Advisors now owns 400 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 100 shares during the period. Finally, Bray Capital Advisors lifted its position in Caterpillar by 25.3% during the second quarter. Bray Capital Advisors now owns 500 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 66.86% of the company’s stock.

CAT has been the topic of a number of research analyst reports. Credit Suisse Group lowered their price objective on shares of Caterpillar from $172.00 to $164.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. UBS Group lowered their price objective on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a research report on Tuesday, June 4th. Robert W. Baird lowered their price objective on shares of Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Stephens initiated coverage on shares of Caterpillar in a research report on Wednesday. They set an “underweight” rating and a $100.00 price objective on the stock. Finally, Wells Fargo & Co lowered their price objective on shares of Caterpillar from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $139.90.

CAT traded down $0.39 during trading on Thursday, hitting $114.82. The company’s stock had a trading volume of 165,200 shares, compared to its average volume of 4,664,563. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. Caterpillar Inc. has a one year low of $112.06 and a one year high of $159.37. The stock has a market cap of $64.63 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.83 and a beta of 1.52. The stock has a 50 day moving average price of $131.42.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The business had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the previous year, the business posted $2.97 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Analysts expect that Caterpillar Inc. will post 11.73 earnings per share for the current fiscal year.

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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