Pinnbrook Capital Management LP Has $2.75 Million Stock Holdings in Caterpillar Inc. $CAT

Pinnbrook Capital Management LP trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 17.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,758 shares of the industrial products company’s stock after selling 1,186 shares during the quarter. Pinnbrook Capital Management LP’s holdings in Caterpillar were worth $2,747,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CAT. Norges Bank bought a new stake in shares of Caterpillar during the second quarter valued at approximately $2,165,899,000. Illinois Municipal Retirement Fund raised its position in Caterpillar by 7.3% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock worth $8,237,000 after purchasing an additional 1,181 shares during the last quarter. Groupe la Francaise lifted its holdings in Caterpillar by 82.0% during the 2nd quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock worth $10,820,000 after buying an additional 12,278 shares in the last quarter. Union Bancaire Privee UBP SA boosted its position in Caterpillar by 155.9% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock valued at $21,014,000 after buying an additional 28,773 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Caterpillar in the 3rd quarter valued at $8,893,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.0%

Shares of Caterpillar stock opened at $693.89 on Friday. The business has a fifty day simple moving average of $693.92 and a 200 day simple moving average of $583.93. The stock has a market cap of $322.86 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.54. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $789.81.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the firm posted $5.14 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. Research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Buying and Selling

In related news, insider Lange Bob De sold 22,656 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $720.11, for a total value of $16,314,812.16. Following the sale, the insider directly owned 79,953 shares in the company, valued at $57,574,954.83. This trade represents a 22.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rodney Michael Shurman sold 2,278 shares of Caterpillar stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $759.61, for a total transaction of $1,730,391.58. Following the transaction, the insider directly owned 1,443 shares in the company, valued at $1,096,117.23. The trade was a 61.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 135,950 shares of company stock worth $94,327,990 over the last quarter. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein restated a “market perform” rating and set a $678.00 target price on shares of Caterpillar in a research report on Friday, January 30th. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $765.00 to $860.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Robert W. Baird set a $805.00 price objective on Caterpillar in a report on Friday, January 30th. Raymond James Financial restated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Finally, Wolfe Research raised their target price on shares of Caterpillar from $470.00 to $670.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

Caterpillar Profile

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.