Mirabella Financial Services LLP Sells 4,501 Shares of Caterpillar Inc. $CAT

Mirabella Financial Services LLP decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 23.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,974 shares of the industrial products company’s stock after selling 4,501 shares during the period. Mirabella Financial Services LLP’s holdings in Caterpillar were worth $7,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Caterpillar during the 2nd quarter worth approximately $2,165,899,000. Wellington Management Group LLP grew its position in Caterpillar by 3,949.8% in the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after acquiring an additional 5,098,964 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Caterpillar by 1,851.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock worth $873,382,000 after buying an additional 1,736,631 shares in the last quarter. Marshall Wace LLP raised its holdings in Caterpillar by 425.2% in the 2nd quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock valued at $295,738,000 after buying an additional 616,739 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Caterpillar by 20.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company’s stock worth $1,695,757,000 after buying an additional 609,023 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Price Performance

CAT opened at $700.09 on Tuesday. The firm has a 50-day moving average of $695.58 and a 200 day moving average of $587.94. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $789.81. The firm has a market cap of $325.75 billion, a P/E ratio of 37.20, a PEG ratio of 1.64 and a beta of 1.53. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.94 and a current ratio of 1.44.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.49. The firm had revenue of $19.13 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $5.14 earnings per share. On average, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CAT. Robert W. Baird set a $805.00 price target on Caterpillar in a report on Friday, January 30th. Raymond James Financial restated a “market perform” rating on shares of Caterpillar in a report on Wednesday, January 7th. UBS Group reaffirmed a “neutral” rating and issued a $677.00 price objective on shares of Caterpillar in a research note on Monday, February 2nd. CICC Research started coverage on shares of Caterpillar in a report on Friday, February 6th. They set an “outperform” rating for the company. Finally, Williams Trading set a $825.00 target price on shares of Caterpillar in a report on Tuesday, March 10th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Moderate Buy” and a consensus target price of $730.50.

Insiders Place Their Bets

In related news, insider Anthony D. Fassino sold 7,891 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $776.90, for a total value of $6,130,517.90. Following the sale, the insider owned 46,643 shares in the company, valued at approximately $36,236,946.70. This trade represents a 14.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph E. Creed sold 2,500 shares of Caterpillar stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $718.93, for a total value of $1,797,325.00. Following the sale, the chief executive officer directly owned 35,083 shares of the company’s stock, valued at $25,222,221.19. This represents a 6.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 135,950 shares of company stock worth $94,327,990. Company insiders own 0.33% of the company’s stock.

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.