Moors & Cabot Inc. Sells 49 Shares of Caterpillar Inc. (NYSE:CAT)

Moors & Cabot Inc. reduced its stake in Caterpillar Inc. (NYSE:CAT) by 0.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 22,328 shares of the industrial products company’s stock after selling 49 shares during the period. Moors & Cabot Inc.’s holdings in Caterpillar were worth $7,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CAT. Canada Pension Plan Investment Board grew its stake in Caterpillar by 306.9% in the first quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock worth $149,385,000 after purchasing an additional 307,479 shares during the period. Swedbank AB purchased a new stake in shares of Caterpillar in the 1st quarter worth about $97,042,000. Capital International Investors lifted its position in Caterpillar by 99.9% during the 1st quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after acquiring an additional 244,253 shares during the period. National Bank of Canada FI boosted its stake in Caterpillar by 104.6% during the second quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company’s stock worth $128,768,000 after acquiring an additional 200,134 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in Caterpillar by 28,321.2% in the second quarter. Strategic Financial Concepts LLC now owns 200,654 shares of the industrial products company’s stock worth $668,000 after purchasing an additional 199,948 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

CAT stock opened at $347.96 on Tuesday. The company has a market cap of $170.17 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The stock’s fifty day moving average price is $341.08 and its 200-day moving average price is $344.15.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same period last year, the firm posted $5.55 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar announced that its Board of Directors has initiated a share buyback program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CAT shares. UBS Group boosted their price target on Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Bank of America reduced their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Citigroup assumed coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Evercore ISI reduced their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $336.31.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,668 shares of company stock valued at $2,665,760. Insiders own 0.33% of the company’s stock.

About Caterpillar

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.