Temasek Holdings Private Ltd Trims Stock Position in Caterpillar Inc. $CAT

Key Points

• Temasek Holdings Private Ltd reduced its stake in Caterpillar Inc. by 36.3% in Q1, selling 14,325 shares to end up with 25,122 shares valued at approximately $8.29 million.
• Several other institutional investors significantly increased their positions in Caterpillar, with GAMMA Investing LLC growing its holdings by an astonishing 43,447.3%, acquiring about 3.7 million shares valued at over $1.23 billion.
• Despite having a missed earnings estimate of $4.72 per share for the last quarter, Caterpillar's revenue was reported at $16.57 billion, exceeding analyst expectations.

Temasek Holdings Private Ltd cut its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 36.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,122 shares of the industrial products company's stock after selling 14,325 shares during the period. Temasek Holdings Private Ltd's holdings in Caterpillar were worth $8,285,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in Caterpillar during the fourth quarter worth about $33,000. Mpwm Advisory Solutions LLC purchased a new position in Caterpillar during the fourth quarter worth about $36,000. Mattson Financial Services LLC purchased a new position in Caterpillar during the fourth quarter worth about $39,000. Curat Global LLC purchased a new position in Caterpillar during the first quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Caterpillar during the first quarter worth about $33,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAT shares. Robert W. Baird lowered their target price on shares of Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. DA Davidson increased their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Bank of America increased their target price on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Finally, Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price for the company in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and an average target price of $457.20.

Caterpillar Stock Down 0.0%

Shares of CAT stock traded down $0.03 during trading on Friday, reaching $431.35. The company's stock had a trading volume of 813,465 shares, compared to its average volume of 2,722,512. The stock's 50-day moving average price is $419.41 and its 200 day moving average price is $364.55. The company has a market capitalization of $202.08 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 2.57 and a beta of 1.41. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

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

Insider Buying and Selling

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred 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 completion of the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred 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 of the company's stock, valued at $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock worth $8,943,642 over the last 90 days. 0.33% of the stock is owned by insiders.

Caterpillar Profile

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.