Jacobs & Co. CA Lowers Holdings in Caterpillar Inc. (NYSE:CAT)


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Jacobs & Co. CA decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,691 shares of the industrial products company’s stock after selling 1,319 shares during the quarter. Jacobs & Co. CA’s holdings in Caterpillar were worth $9,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CAT. IronBridge Private Wealth LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $30,000. HBC Financial Services PLLC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $31,000. Flagship Private Wealth LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $32,000. Wolff Wiese Magana LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $33,000. Finally, Oder Investment Management LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $34,000. 67.48% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Caterpillar from $205.00 to $245.00 in a research note on Tuesday, March 16th. Morgan Stanley lifted their price target on shares of Caterpillar from $154.00 to $158.00 and gave the stock an “underweight” rating in a research note on Monday, February 1st. Vertical Research assumed coverage on shares of Caterpillar in a research note on Wednesday, January 20th. They issued a “buy” rating and a $230.00 price target for the company. Credit Suisse Group lifted their price target on shares of Caterpillar from $228.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, February 1st. Finally, Daiwa Capital Markets downgraded shares of Caterpillar from an “outperform” rating to a “neutral” rating in a research note on Friday, March 5th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. Caterpillar presently has a consensus rating of “Hold” and a consensus target price of $182.05.

In other Caterpillar news, General Counsel Suzette M. Long sold 59,311 shares of the business’s stock in a transaction on Monday, March 8th. The shares were sold at an average price of $219.67, for a total transaction of $13,028,847.37. Following the sale, the general counsel now directly owns 33,320 shares in the company, valued at approximately $7,319,404.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Denise C. Johnson sold 80,695 shares of the business’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $219.82, for a total transaction of $17,738,374.90. Following the sale, the insider now owns 38,945 shares in the company, valued at $8,560,889.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 149,080 shares of company stock worth $32,650,920. 0.31% of the stock is currently owned by insiders.

Shares of Caterpillar stock traded down $2.01 during trading on Thursday, reaching $228.40. The company’s stock had a trading volume of 47,638 shares, compared to its average volume of 3,398,930. The company has a 50-day moving average price of $222.41 and a two-hundred day moving average price of $186.67. The firm has a market cap of $124.55 billion, a PE ratio of 37.88, a P/E/G ratio of 2.14 and a beta of 0.97. Caterpillar Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $237.78. The company has a current ratio of 1.54, a quick ratio of 1.08 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 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.63. The business had revenue of $11.24 billion for the quarter, compared to analysts’ expectations of $11.24 billion. Caterpillar had a net margin of 7.60% and a return on equity of 25.24%. The company’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.63 EPS. On average, analysts predict that Caterpillar Inc. will post 5.44 earnings per share for the current fiscal year.

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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