Alliancebernstein L.P. trimmed its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 537,319 shares of the industrial products company's stock after selling 10,932 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Caterpillar worth $177,208,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Pacific Point Advisors LLC purchased a new stake in Caterpillar in the 4th quarter valued at $579,000. Brighton Jones LLC raised its position in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in Caterpillar by 104.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,222 shares of the industrial products company's stock valued at $806,000 after buying an additional 51,018 shares during the last quarter. Dunhill Financial LLC raised its position in Caterpillar by 21.3% in the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock valued at $75,000 after buying an additional 36 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Caterpillar by 67.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 95,187 shares of the industrial products company's stock valued at $34,530,000 after purchasing an additional 38,497 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on CAT shares. Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Oppenheimer decreased their target price on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Robert W. Baird decreased their target price on Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Finally, Citigroup raised their target price on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $457.20.
Get Our Latest Analysis on Caterpillar
Caterpillar Price Performance
NYSE CAT traded up $7.57 during trading hours on Wednesday, hitting $425.66. The company had a trading volume of 644,733 shares, compared to its average volume of 2,723,963. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15. The firm has a 50 day simple moving average of $418.27 and a 200 day simple moving average of $363.50. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm has a market capitalization of $199.41 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.57 and a beta of 1.41.
Caterpillar (NYSE:CAT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS 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 company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the prior year, the business earned $5.99 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.
Insiders Place Their Bets
In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the firm'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 completion of the sale, the insider directly 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. Insiders sold a total of 21,653 shares of company stock worth $8,943,642 in the last quarter. 0.33% of the stock is owned by company insiders.
Caterpillar Profile
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Free Report)
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.
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