MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 7,125 Shares of Caterpillar Inc. $CAT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Caterpillar Inc. by 9.9% during the first quarter, acquiring an additional 7,125 shares for a total value of $26,037,000.
• Insider transactions saw a significant drop in ownership, with Jason Kaiser and Susan C. Schwab selling shares valued at over $1.8 million in August, leading to a notable decrease in their respective stakes.
• Caterpillar recently reported quarterly earnings that missed analysts' estimates, with revenue down 0.7% year-over-year, and also announced an increase in its dividend to $1.51 per share.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,947 shares of the industrial products company's stock after purchasing an additional 7,125 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Caterpillar were worth $26,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Victrix Investment Advisors bought a new position in Caterpillar in the 4th quarter valued at $2,090,000. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after purchasing an additional 15,347 shares during the period. Pacific Point Advisors LLC bought a new position in Caterpillar in the 4th quarter valued at $579,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after buying an additional 30,070 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its position in shares of Caterpillar by 3.4% during the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock valued at $7,483,000 after buying an additional 743 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company's stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,653 shares of company stock worth $8,943,642. 0.33% of the stock is currently owned by insiders.

Caterpillar Price Performance

Shares of CAT stock traded up $8.71 during trading hours on Thursday, hitting $431.62. 2,737,694 shares of the company's stock were exchanged, compared to its average volume of 2,733,555. The company has a market capitalization of $202.21 billion, a PE ratio of 21.95, a PEG ratio of 2.54 and a beta of 1.41. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The business's 50 day simple moving average is $418.76 and its 200-day simple moving average is $363.91. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (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 for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the previous year, the business earned $5.99 earnings per share. Caterpillar's revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent research reports. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a research report on Tuesday, August 19th. Oppenheimer dropped their price target on Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and upped their price target for the company from $272.00 to $357.00 in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their price objective on Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $457.20.

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.