Wellington Management Group LLP Grows Stake in Caterpillar Inc. $CAT

Wellington Management Group LLP increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3,949.8% in the 3rd quarter, Holdings Channel reports. The firm owned 5,228,058 shares of the industrial products company’s stock after purchasing an additional 5,098,964 shares during the period. Wellington Management Group LLP’s holdings in Caterpillar were worth $2,494,568,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Caterpillar in the 2nd quarter valued at $2,165,899,000. Illinois Municipal Retirement Fund raised its position in shares of Caterpillar by 7.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock valued at $8,237,000 after buying an additional 1,181 shares during the period. Groupe la Francaise lifted its holdings in Caterpillar by 82.0% in the second quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock valued at $10,820,000 after acquiring an additional 12,278 shares during the last quarter. Union Bancaire Privee UBP SA grew its position in Caterpillar by 155.9% in the third quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock worth $21,014,000 after acquiring an additional 28,773 shares during the period. Finally, Caprock Group LLC acquired a new stake in Caterpillar during the third quarter worth $8,893,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Down 1.0%

Shares of Caterpillar stock opened at $693.89 on Friday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $789.81. The company has a 50 day moving average of $693.92 and a 200 day moving average of $583.93. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $322.86 billion, a P/E ratio of 36.87, a P/E/G ratio of 1.65 and a beta of 1.54.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.49. The business had revenue of $19.13 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $5.14 EPS. As a group, research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total transaction of $5,750,600.00. Following the sale, the chief financial officer owned 45,460 shares of the company’s stock, valued at approximately $26,142,227.60. This trade represents a 18.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony D. Fassino sold 10,671 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $680.45, for a total value of $7,261,081.95. Following the sale, the insider owned 41,151 shares of the company’s stock, valued at approximately $28,001,197.95. The trade was a 20.59% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 135,950 shares of company stock worth $94,327,990. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CAT. DA Davidson boosted their price objective on shares of Caterpillar from $569.00 to $650.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Bank of America boosted their price target on shares of Caterpillar from $735.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Rothschild & Co Redburn lifted their target price on shares of Caterpillar from $650.00 to $700.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Argus lifted their target price on Caterpillar from $625.00 to $820.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, UBS Group reissued a “neutral” rating and set a $677.00 price target on shares of Caterpillar in a research report on Monday, February 2nd. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $730.50.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.