Calydon Capital Cuts Stock Holdings in Caterpillar Inc. $CAT

Calydon Capital lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 56.7% during the third quarter, Holdings Channel.com reports. The firm owned 918 shares of the industrial products company’s stock after selling 1,200 shares during the quarter. Calydon Capital’s holdings in Caterpillar were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CAT. Norges Bank purchased a new position in Caterpillar in the second quarter worth $2,165,899,000. Wellington Management Group LLP grew its stake in shares of Caterpillar by 3,949.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock worth $2,494,568,000 after purchasing an additional 5,098,964 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Caterpillar by 1,851.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock valued at $873,382,000 after purchasing an additional 1,736,631 shares during the period. Marshall Wace LLP boosted its holdings in Caterpillar by 425.2% during the second quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock worth $295,738,000 after buying an additional 616,739 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in 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 buying an additional 609,023 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on CAT. Rothschild & Co Redburn upped their price target on Caterpillar from $650.00 to $700.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Daiwa Securities Group raised their price target on Caterpillar from $640.00 to $790.00 in a research report on Wednesday, February 25th. Argus boosted their price objective on shares of Caterpillar from $625.00 to $820.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $678.00 target price on shares of Caterpillar in a research note on Friday, January 30th. Finally, Oppenheimer upped their price objective on Caterpillar from $729.00 to $817.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $730.50.

Caterpillar Stock Down 1.0%

CAT stock opened at $693.89 on Monday. The stock has a market capitalization 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 50 day moving average price of $693.92 and a two-hundred day moving average price of $586.07. Caterpillar Inc. has a one year low of $267.30 and a one year high of $789.81. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.94 and a current ratio of 1.44.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm had revenue of $19.13 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the business posted $5.14 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Transactions at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 972 shares of Caterpillar stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $764.20, for a total value of $742,802.40. Following the transaction, the chief accounting officer owned 824 shares in the company, valued at $629,700.80. This trade represents a 54.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief executive officer owned 35,083 shares of the company’s stock, valued at approximately $25,222,221.19. The trade was a 6.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 135,950 shares of company stock valued at $94,327,990 in the last quarter. Insiders own 0.33% of the company’s stock.

Caterpillar Company 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.