Mirae Asset Global Investments Co. Ltd. Buys 5,130 Shares of Caterpillar Inc. $CAT

Mirae Asset Global Investments Co. Ltd. grew its stake in Caterpillar Inc. (NYSE:CAT) by 6.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 81,218 shares of the industrial products company’s stock after purchasing an additional 5,130 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Caterpillar were worth $31,530,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $32,000. Compass Financial Services Inc lifted its stake in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 31 shares during the last quarter. Curat Global LLC bought a new stake in shares of Caterpillar during the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC bought a new stake in Caterpillar during the 1st quarter valued at $33,000. Finally, Maseco LLP bought a new stake in Caterpillar during the 2nd quarter valued at $45,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Up 1.6%

Shares of CAT stock opened at $498.48 on Friday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $504.48. The stock’s fifty day moving average price is $436.99 and its 200 day moving average price is $378.48. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The company has a market cap of $233.53 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 2.98 and a beta of 1.46.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter last year, the firm earned $5.99 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAT has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. DA Davidson lifted their price target on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Caterpillar in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and a consensus target price of $466.53.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,819 shares of company stock worth $16,885,492. 0.33% of the stock is currently owned by insiders.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.