Moors & Cabot Inc. Has $8.01 Million Stock Position in Caterpillar Inc. $CAT

Moors & Cabot Inc. lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 16.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,792 shares of the industrial products company’s stock after selling 3,246 shares during the period. Moors & Cabot Inc.’s holdings in Caterpillar were worth $8,012,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CAT. Norges Bank acquired a new position in Caterpillar during the 2nd quarter worth about $2,165,899,000. Wellington Management Group LLP raised its position in shares of Caterpillar by 3,949.8% during the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock worth $2,494,568,000 after acquiring an additional 5,098,964 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Caterpillar by 1,851.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock worth $873,382,000 after acquiring an additional 1,736,631 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Caterpillar by 425.2% in the second quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock worth $295,738,000 after acquiring an additional 616,739 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Caterpillar by 20.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company’s stock valued at $1,695,757,000 after purchasing an additional 609,023 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $700.09 on Tuesday. The business has a 50-day simple moving average of $695.58 and a 200 day simple moving average of $587.94. Caterpillar Inc. has a one year low of $267.30 and a one year high of $789.81. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94. The firm has a market capitalization of $325.75 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 1.64 and a beta of 1.53.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm had revenue of $19.13 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm posted $5.14 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joseph E. Creed sold 2,500 shares of Caterpillar stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $718.93, for a total transaction of $1,797,325.00. Following the completion of the transaction, the chief executive officer directly owned 35,083 shares in the company, valued at $25,222,221.19. This trade represents a 6.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Schaupp sold 972 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $764.20, for a total transaction of $742,802.40. Following the completion of the sale, the chief accounting officer owned 824 shares in the company, valued at $629,700.80. This represents a 54.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 135,950 shares of company stock worth $94,327,990 in the last quarter. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Caterpillar from $400.00 to $425.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 3rd. CICC Research assumed coverage on Caterpillar in a research note on Friday, February 6th. They issued an “outperform” rating on the stock. Rothschild & Co Redburn upped their target price on Caterpillar from $650.00 to $700.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Citigroup lifted their target price on Caterpillar from $760.00 to $785.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $678.00 price target on shares of Caterpillar in a report on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $730.50.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.