Caterpillar Inc. $CAT Shares Sold by Calydon Capital

Calydon Capital lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 56.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 918 shares of the industrial products company’s stock after selling 1,200 shares during the period. Calydon Capital’s holdings in Caterpillar were worth $438,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CAT. Norges Bank purchased a new stake in shares of Caterpillar during the second quarter worth approximately $2,165,899,000. Illinois Municipal Retirement Fund lifted its stake in Caterpillar by 7.3% in the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock worth $8,237,000 after acquiring an additional 1,181 shares during the last quarter. Groupe la Francaise grew its holdings in Caterpillar by 82.0% during the 2nd quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock worth $10,820,000 after acquiring an additional 12,278 shares in the last quarter. Union Bancaire Privee UBP SA increased its position in shares of Caterpillar by 155.9% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock valued at $21,014,000 after purchasing an additional 28,773 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Caterpillar in the 3rd quarter valued at $8,893,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Caterpillar from $785.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Raymond James Financial restated a “market perform” rating on shares of Caterpillar in a research note on Wednesday, January 7th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $678.00 price objective on shares of Caterpillar in a research report on Friday, January 30th. Wells Fargo & Company increased their price objective on Caterpillar from $756.00 to $870.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Finally, Barclays boosted their target price on Caterpillar from $610.00 to $625.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus price target of $730.50.

Caterpillar Stock Down 1.0%

Shares of NYSE CAT opened at $693.89 on Monday. The stock has a market cap of $322.86 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 1.64 and a beta of 1.53. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $789.81. The business has a 50-day moving average price of $693.92 and a 200 day moving average price of $586.07.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.67 by $0.49. The company had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.14 earnings per share. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 7,891 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $776.90, for a total transaction of $6,130,517.90. Following the transaction, the insider owned 46,643 shares of the company’s stock, valued at $36,236,946.70. This trade represents a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO William E. Schaupp sold 972 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $764.20, for a total value of $742,802.40. Following the sale, the chief accounting officer directly owned 824 shares of the company’s stock, valued at $629,700.80. The trade was a 54.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 135,950 shares of company stock worth $94,327,990 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Caterpillar Profile

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.