Millennium Management LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,469,476 shares of the industrial products company’s stock after selling 33,878 shares during the quarter. Caterpillar accounts for 0.3% of Millennium Management LLC’s holdings, making the stock its 21st largest holding. Millennium Management LLC owned 0.25% of Caterpillar worth $231,560,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Caterpillar by 6.5% in the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after buying an additional 2,297,750 shares during the period. Geode Capital Management LLC raised its holdings in shares of Caterpillar by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 6,212,261 shares of the industrial products company’s stock valued at $976,845,000 after buying an additional 323,920 shares during the period. Jennison Associates LLC raised its holdings in shares of Caterpillar by 126.5% in the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after buying an additional 3,324,051 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Caterpillar by 17.7% in the 4th quarter. TIAA CREF Investment Management LLC now owns 4,035,424 shares of the industrial products company’s stock valued at $635,902,000 after buying an additional 607,875 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Caterpillar by 0.4% in the 3rd quarter. Legal & General Group Plc now owns 2,955,916 shares of the industrial products company’s stock valued at $368,648,000 after buying an additional 11,745 shares during the period. Institutional investors own 69.28% of the company’s stock.
In other news, insider Thomas A. Pellette sold 95,199 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total transaction of $15,526,004.91. Following the completion of the transaction, the insider now directly owns 96,268 shares of the company’s stock, valued at approximately $15,700,348.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Suzette M. Long sold 528 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total value of $84,722.88. Following the transaction, the general counsel now directly owns 19,646 shares of the company’s stock, valued at $3,152,397.16. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.39. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.01 billion. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. equities research analysts predict that Caterpillar Inc. will post 9.1 earnings per share for the current year.
Several research firms recently issued reports on CAT. ValuEngine downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Credit Suisse Group reiterated a “buy” rating and issued a $210.00 price objective on shares of Caterpillar in a report on Wednesday. Vetr downgraded Caterpillar from a “buy” rating to a “hold” rating and set a $169.96 price objective on the stock. in a report on Tuesday, February 27th. Citigroup reiterated a “neutral” rating and issued a $185.00 price objective (up previously from $160.00) on shares of Caterpillar in a report on Friday, January 19th. Finally, Jefferies Group reiterated a “hold” rating and issued a $170.00 price objective on shares of Caterpillar in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Caterpillar has an average rating of “Buy” and an average target price of $170.91.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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