Main Street Research LLC Grows Holdings in Caterpillar Inc. (CAT)

Main Street Research LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 117,849 shares of the industrial products company’s stock after purchasing an additional 1,610 shares during the quarter. Caterpillar comprises approximately 2.8% of Main Street Research LLC’s portfolio, making the stock its 6th biggest holding. Main Street Research LLC’s holdings in Caterpillar were worth $18,571,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CAT. Jennison Associates LLC increased its holdings in shares of Caterpillar by 126.5% in the fourth quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after purchasing an additional 3,324,051 shares during the period. Vanguard Group Inc. increased its holdings in shares of Caterpillar by 6.1% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock valued at $4,430,058,000 after purchasing an additional 2,377,623 shares during the period. FMR LLC increased its holdings in shares of Caterpillar by 11.7% in the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock valued at $2,107,684,000 after purchasing an additional 2,052,300 shares during the period. Balyasny Asset Management LLC increased its holdings in shares of Caterpillar by 663.8% in the second quarter. Balyasny Asset Management LLC now owns 1,032,853 shares of the industrial products company’s stock valued at $110,990,000 after purchasing an additional 1,216,053 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Caterpillar by 61.7% in the second quarter. Renaissance Technologies LLC now owns 2,501,100 shares of the industrial products company’s stock valued at $268,768,000 after purchasing an additional 954,200 shares during the period. 69.25% of the stock is currently owned by institutional investors and hedge funds.

CAT has been the topic of a number of analyst reports. Barclays set a $180.00 price target on Caterpillar and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Bank of America lifted their price target on Caterpillar from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Credit Suisse Group restated an “outperform” rating and issued a $146.00 price target (up from $133.00) on shares of Caterpillar in a research note on Wednesday, October 18th. Wells Fargo & Co lifted their price target on Caterpillar from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Finally, Vetr upgraded Caterpillar from a “strong sell” rating to a “sell” rating and set a $151.72 price target on the stock in a research note on Monday, January 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $167.80.

In related news, insider Thomas A. Pellette sold 95,199 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the completion of the transaction, the insider now directly owns 96,268 shares in the company, valued at $15,700,348.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jananne A. Copeland sold 3,247 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $136.95, for a total value of $444,676.65. Following the completion of the transaction, the insider now owns 8,908 shares of the company’s stock, valued at $1,219,950.60. The disclosure for this sale can be found here. Insiders sold 143,331 shares of company stock valued at $22,107,578 over the last quarter. Insiders own 0.14% of the company’s stock.

Caterpillar Inc. (NYSE CAT) opened at $154.34 on Thursday. The company has a market capitalization of $93,053.58, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.67 and a beta of 1.23. Caterpillar Inc. has a 12 month low of $90.34 and a 12 month high of $173.24. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.35 and a quick ratio of 0.97.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.39. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates 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 earnings per share. equities analysts predict that Caterpillar Inc. will post 9.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be paid a $0.78 dividend. The ex-dividend date is Friday, January 19th. This represents a $3.12 annualized dividend and a yield of 2.02%. Caterpillar’s payout ratio is currently 247.62%.

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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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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