Millennium Management LLC Has $231.56 Million Holdings in Caterpillar Inc. (CAT)
Millennium Management LLC cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,469,476 shares of the industrial products company’s stock after selling 33,878 shares during the period. Caterpillar makes up 0.3% of Millennium Management LLC’s investment portfolio, making the stock its 21st biggest holding. Millennium Management LLC’s holdings in Caterpillar were worth $231,560,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of CAT. Gradient Investments LLC purchased a new stake in Caterpillar during the 4th quarter valued at approximately $113,000. Harvest Fund Management Co. Ltd purchased a new stake in Caterpillar during the 4th quarter valued at approximately $131,000. Clearbridge LLC purchased a new stake in Caterpillar during the 4th quarter valued at approximately $140,000. Aevitas Wealth Management Inc. purchased a new stake in Caterpillar during the 4th quarter valued at approximately $143,000. Finally, Massey Quick Simon & CO. LLC raised its stake in Caterpillar by 4,240.7% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,172 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 1,145 shares during the last quarter. 69.28% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on CAT. Credit Suisse Group reaffirmed a “buy” rating and set a $210.00 price objective on shares of Caterpillar in a research note on Wednesday. ValuEngine downgraded Caterpillar from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Morgan Stanley assumed coverage on Caterpillar in a research note on Friday, March 2nd. They set an “overweight” rating and a $185.00 target price for the company. Vetr raised Caterpillar from a “buy” rating to a “strong-buy” rating and set a $180.95 target price for the company in a research note on Thursday, March 1st. Finally, UBS Group set a $190.00 target price on Caterpillar and gave the stock a “buy” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Caterpillar has an average rating of “Buy” and an average target price of $170.91.
Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.39. The business had revenue of $12.90 billion for 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 company’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. analysts expect that Caterpillar Inc. will post 9.1 earnings per share for the current year.
In other Caterpillar news, General Counsel Suzette M. Long sold 528 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total transaction of $84,722.88. Following the sale, the general counsel now owns 19,646 shares in the company, valued at approximately $3,152,397.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas A. Pellette sold 95,199 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $163.09, for a total value of $15,526,004.91. Following the sale, the insider now owns 96,268 shares in the company, valued at approximately $15,700,348.12. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
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Caterpillar Company Profile
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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