Temasek Holdings Private Ltd Sells 14,325 Shares of 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 lessened its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 36.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,122 shares of the industrial products company's stock after selling 14,325 shares during the quarter. Temasek Holdings Private Ltd's holdings in Caterpillar were worth $8,285,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CAT. Pacific Point Advisors LLC purchased a new position in Caterpillar during the 4th quarter valued at about $579,000. Brighton Jones LLC boosted its position in shares of Caterpillar by 51.5% during the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after acquiring an additional 2,519 shares during the last quarter. Driehaus Capital Management LLC boosted its position in shares of Caterpillar by 22.1% during the 4th quarter. Driehaus Capital Management LLC now owns 1,114 shares of the industrial products company's stock valued at $404,000 after acquiring an additional 202 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in shares of Caterpillar by 5.5% during the 4th quarter. Clark Capital Management Group Inc. now owns 6,269 shares of the industrial products company's stock valued at $2,274,000 after acquiring an additional 326 shares during the last quarter. Finally, First Manhattan CO. LLC. boosted its position in shares of Caterpillar by 3.9% during the 4th quarter. First Manhattan CO. LLC. now owns 4,328 shares of the industrial products company's stock valued at $1,570,000 after acquiring an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company's stock, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the 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 sale, the chairman directly owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,653 shares of company stock valued at $8,943,642 over the last ninety days. Insiders own 0.33% of the company's stock.

Caterpillar Stock Up 1.1%

Shares of NYSE CAT traded up $4.68 during trading on Wednesday, reaching $422.77. The company had a trading volume of 2,220,983 shares, compared to its average volume of 2,733,482. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The stock has a market cap of $198.06 billion, a PE ratio of 21.50, a P/E/G ratio of 2.57 and a beta of 1.41. The business's 50-day moving average is $418.76 and its 200 day moving average is $363.91. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 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 company had revenue of $16.57 billion during the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the prior year, the company posted $5.99 earnings per share. The company's revenue was down .7% on a year-over-year basis. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAT has been the subject of a number of recent research reports. Citigroup boosted their target price on Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Oppenheimer lowered their price objective on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Bank of America boosted their target price on Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Barclays boosted their target price on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, DA Davidson boosted their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Caterpillar currently has an average rating of "Moderate Buy" and a consensus price target of $457.20.

Caterpillar Company 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.