DMC Group LLC Sells 173 Shares of Caterpillar Inc. (NYSE:CAT)

DMC Group LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,537 shares of the industrial products company’s stock after selling 173 shares during the quarter. DMC Group LLC’s holdings in Caterpillar were worth $870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC increased its holdings in shares of Caterpillar by 130,632.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock worth $2,343,859,000 after acquiring an additional 9,776,533 shares in the last quarter. Norges Bank bought a new stake in Caterpillar during the 4th quarter worth approximately $1,175,255,000. Gateway Advisory LLC acquired a new stake in Caterpillar during the 1st quarter worth approximately $4,004,000. Ontario Teachers Pension Plan Board bought a new position in Caterpillar in the first quarter valued at approximately $433,134,000. Finally, FMR LLC increased its position in shares of Caterpillar by 22.1% during the first quarter. FMR LLC now owns 5,665,888 shares of the industrial products company’s stock worth $1,296,582,000 after acquiring an additional 1,024,083 shares in the last quarter. 69.20% of the stock is owned by institutional investors.

Caterpillar Stock Performance

CAT traded down $2.53 during trading hours on Tuesday, reaching $278.41. The company’s stock had a trading volume of 1,139,411 shares, compared to its average volume of 3,067,499. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.33. The company’s 50-day moving average is $273.63 and its 200-day moving average is $242.50. Caterpillar Inc. has a 52 week low of $160.60 and a 52 week high of $293.88. The firm has a market cap of $142.02 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.13.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $5.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.57 by $0.98. Caterpillar had a net margin of 12.91% and a return on equity of 55.93%. The company had revenue of $17.30 billion during the quarter, compared to analysts’ expectations of $16.46 billion. During the same quarter last year, the company posted $3.18 EPS. Caterpillar’s quarterly revenue was up 21.4% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 19.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CAT shares. Credit Suisse Group increased their target price on Caterpillar from $279.00 to $334.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Robert W. Baird lifted their target price on Caterpillar from $183.00 to $234.00 and gave the company an “underperform” rating in a research report on Wednesday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $275.00 to $315.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. TD Cowen lifted their price target on shares of Caterpillar from $287.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Caterpillar from $274.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Caterpillar presently has an average rating of “Hold” and a consensus price target of $267.00.

Insider Transactions at Caterpillar

In other news, insider Anthony D. Fassino sold 2,923 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total transaction of $815,517.00. Following the transaction, the insider now owns 16,182 shares in the company, valued at $4,514,778. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 2,923 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total value of $815,517.00. Following the transaction, the insider now directly owns 16,182 shares of the company’s stock, valued at approximately $4,514,778. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lange Bob De sold 20,000 shares of Caterpillar stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $275.00, for a total value of $5,500,000.00. Following the sale, the insider now directly owns 53,671 shares of the company’s stock, valued at approximately $14,759,525. The disclosure for this sale can be found here. Insiders sold a total of 54,918 shares of company stock worth $15,299,870 over the last quarter. Company insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.