Caterpillar Inc. $CAT Shares Sold by Fort Point Capital Partners LLC

Fort Point Capital Partners LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 38.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,875 shares of the industrial products company’s stock after selling 2,400 shares during the period. Fort Point Capital Partners LLC’s holdings in Caterpillar were worth $1,849,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC grew its stake in Caterpillar by 2.3% during the 2nd quarter. Fisher Asset Management LLC now owns 9,418,321 shares of the industrial products company’s stock worth $3,656,286,000 after buying an additional 208,196 shares during the last quarter. Norges Bank purchased a new stake in Caterpillar in the second quarter valued at approximately $2,165,899,000. Wellington Management Group LLP boosted its holdings in shares of Caterpillar by 3,949.8% in the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after acquiring an additional 5,098,964 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Caterpillar by 20.7% in the third quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company’s stock valued at $1,695,757,000 after acquiring an additional 609,023 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Caterpillar by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,337,915 shares of the industrial products company’s stock worth $1,295,432,000 after acquiring an additional 33,467 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CAT. Wells Fargo & Company upped their price target on shares of Caterpillar from $756.00 to $870.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada raised their price objective on shares of Caterpillar from $587.00 to $658.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Argus lifted their price objective on shares of Caterpillar from $625.00 to $820.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Evercore upped their target price on shares of Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Finally, Jefferies Financial Group raised their price target on Caterpillar from $785.00 to $825.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Sixteen equities research 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $730.50.

Insider Buying and Selling

In other news, CAO William E. Schaupp sold 972 shares of the firm’s 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 completion of the sale, the chief accounting officer directly owned 824 shares of the company’s stock, valued at $629,700.80. This trade represents a 54.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph E. Creed sold 2,500 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $718.93, for a total value of $1,797,325.00. Following the transaction, the chief executive officer directly owned 35,083 shares in the company, valued at $25,222,221.19. This represents a 6.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 135,950 shares of company stock worth $94,327,990 in the last three months. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Down 1.0%

Shares of Caterpillar stock opened at $693.89 on Monday. Caterpillar Inc. has a one year low of $267.30 and a one year high of $789.81. The company has a market cap of $322.86 billion, a P/E ratio of 36.87, a PEG ratio of 1.64 and a beta of 1.53. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.94 and a current ratio of 1.44. The firm has a fifty day moving average of $693.92 and a two-hundred day moving average of $586.07.

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

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.