American Research & Management Co. Trims Position in Caterpillar Inc. (NYSE:CAT)

American Research & Management Co. trimmed its position in Caterpillar Inc. (NYSE:CAT) by 28.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,300 shares of the industrial products company’s stock after selling 526 shares during the period. American Research & Management Co.’s holdings in Caterpillar were worth $301,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. HBC Financial Services PLLC bought a new position in shares of Caterpillar during the fourth quarter valued at $31,000. IronBridge Private Wealth LLC purchased a new stake in Caterpillar in the fourth quarter worth about $30,000. Flagship Private Wealth LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $32,000. Wolff Wiese Magana LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $33,000. Finally, Oder Investment Management LLC purchased a new stake in shares of Caterpillar during the fourth quarter worth about $34,000. 67.48% of the stock is currently owned by institutional investors.

In related news, CAO Gary Michael Marvel sold 4,018 shares of the stock in a transaction dated Tuesday, February 2nd. The stock was sold at an average price of $190.76, for a total value of $766,473.68. Also, General Counsel Suzette M. Long sold 59,311 shares of the stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $219.67, for a total value of $13,028,847.37. Following the completion of the sale, the general counsel now directly owns 33,320 shares of the company’s stock, valued at $7,319,404.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,080 shares of company stock valued at $32,650,920. 0.31% of the stock is currently owned by company insiders.

NYSE CAT traded down $1.57 during trading hours on Thursday, hitting $228.84. The company had a trading volume of 62,174 shares, compared to its average volume of 3,398,930. Caterpillar Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $237.78. The firm has a market cap of $124.79 billion, a P/E ratio of 37.88, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The business has a fifty day simple moving average of $222.41 and a 200-day simple moving average of $186.67. The company has a quick ratio of 1.08, a current ratio of 1.54 and a debt-to-equity ratio of 1.74.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 28th. The industrial products company reported $2.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.63. Caterpillar had a return on equity of 25.24% and a net margin of 7.60%. The business had revenue of $11.24 billion during the quarter, compared to analysts’ expectations of $11.24 billion. During the same quarter last year, the business posted $2.63 earnings per share. The company’s quarterly revenue was down 14.5% on a year-over-year basis. Equities analysts forecast that Caterpillar Inc. will post 5.44 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Caterpillar to $220.00 in a research note on Wednesday, December 30th. Citigroup raised their price objective on Caterpillar from $205.00 to $245.00 in a report on Tuesday, March 16th. JPMorgan Chase & Co. boosted their target price on Caterpillar from $205.00 to $237.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 3rd. BMO Capital Markets boosted their target price on Caterpillar from $135.00 to $190.00 and gave the stock a “market perform” rating in a research note on Monday, February 1st. Finally, OTR Global raised Caterpillar to a “positive” rating in a research report on Monday, December 14th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $182.05.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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