South Dakota Investment Council lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 24.1% in the second quarter, Holdings Channel.com reports. The fund owned 20,650 shares of the industrial products company’s stock after selling 6,550 shares during the quarter. South Dakota Investment Council’s holdings in Caterpillar were worth $2,814,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Tortoise Investment Management LLC boosted its position in Caterpillar by 3,600.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after buying an additional 180 shares during the period. Kavar Capital Partners LLC acquired a new position in shares of Caterpillar in the second quarter valued at about $46,000. Sound Income Strategies LLC boosted its holdings in shares of Caterpillar by 23.5% in the 2nd quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 72 shares during the last quarter. Exane Derivatives purchased a new position in shares of Caterpillar during the 2nd quarter valued at about $54,000. Finally, JNBA Financial Advisors boosted its holdings in Caterpillar by 33.3% during the second quarter. JNBA Financial Advisors now owns 400 shares of the industrial products company’s stock worth $55,000 after buying an additional 100 shares in the last quarter. 65.07% of the stock is currently owned by institutional investors.

CAT has been the topic of a number of recent analyst reports. ValuEngine lowered Caterpillar from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Buckingham Research cut shares of Caterpillar from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $162.00 to $140.00 in a research report on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $145.00 price objective (down from $150.00) on shares of Caterpillar in a report on Monday. Goldman Sachs Group lowered Caterpillar from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $156.00 to $130.00 in a research note on Wednesday, August 7th. Finally, UBS Group decreased their price target on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a research note on Tuesday, June 4th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $139.56.

NYSE:CAT traded up $1.48 on Wednesday, reaching $131.77. The company’s stock had a trading volume of 4,196,996 shares, compared to its average volume of 3,609,136. Caterpillar Inc. has a 12-month low of $111.75 and a 12-month high of $159.37. The stock has a 50 day moving average price of $121.89 and a 200 day moving average price of $130.48. The firm has a market cap of $72.90 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.90 and a beta of 1.54. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 1.66.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.29). The business had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.97 earnings per share. Equities research analysts expect that Caterpillar Inc. will post 11.74 EPS for the current fiscal year.

Caterpillar 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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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