Metropolitan Life Insurance Co. NY trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 62.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,159 shares of the industrial products company’s stock after selling 188,266 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Caterpillar were worth $17,989,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. Jennison Associates LLC grew its stake in shares of Caterpillar by 126.5% in the 4th 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. BlackRock Inc. grew its stake in shares of Caterpillar by 6.5% in the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after purchasing an additional 2,297,750 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $148,604,000. CI Investments Inc. grew its stake in shares of Caterpillar by 400,906.6% in the 4th quarter. CI Investments Inc. now owns 665,671 shares of the industrial products company’s stock valued at $104,896,000 after purchasing an additional 665,505 shares during the period. Finally, Fred Alger Management Inc. bought a new stake in shares of Caterpillar in the 4th quarter valued at approximately $103,179,000. Hedge funds and other institutional investors own 69.24% of the company’s stock.
NYSE:CAT traded down $5.14 during trading hours on Friday, hitting $142.99. 5,707,394 shares of the stock were exchanged, compared to its average volume of 5,176,423. Caterpillar Inc. has a twelve month low of $92.98 and a twelve month high of $173.24. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.97 and a current ratio of 1.35. The company has a market cap of $88,526.31, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.36 and a beta of 1.30.
Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.39. The firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $12.01 billion. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. equities analysts predict that Caterpillar Inc. will post 9.1 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the company. Cleveland Research reiterated a “hold” rating on shares of Caterpillar in a research note on Thursday. Vetr upgraded Caterpillar from a “buy” rating to a “strong-buy” rating and set a $169.76 price objective on the stock in a research note on Monday, March 26th. Zacks Investment Research lowered Caterpillar from a “buy” rating to a “sell” rating in a research note on Wednesday, March 28th. Citigroup reiterated a “neutral” rating and issued a $185.00 price objective (up from $160.00) on shares of Caterpillar in a research note on Friday, January 19th. Finally, ValuEngine lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Caterpillar has an average rating of “Buy” and an average target price of $170.40.
In other news, insider Thomas A. Pellette sold 95,199 shares of the 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 transaction, the insider now owns 96,268 shares of the company’s stock, valued at approximately $15,700,348.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Suzette M. Long sold 528 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $160.46, for a total value of $84,722.88. Following the completion of the transaction, the general counsel now directly owns 19,646 shares in the company, valued at approximately $3,152,397.16. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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