Alight Capital Management LP Cuts Stake in Caterpillar Inc. $CAT

Alight Capital Management LP lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 57.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the industrial products company’s stock after selling 20,500 shares during the quarter. Caterpillar accounts for 1.5% of Alight Capital Management LP’s investment portfolio, making the stock its 25th biggest position. Alight Capital Management LP’s holdings in Caterpillar were worth $7,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Marquette Asset Management LLC lifted its position in Caterpillar by 1,060.0% during the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 53 shares in the last quarter. Joseph Group Capital Management acquired a new stake in Caterpillar in the third quarter valued at approximately $32,000. Kilter Group LLC purchased a new stake in shares of Caterpillar during the second quarter valued at approximately $27,000. Sellwood Investment Partners LLC purchased a new position in shares of Caterpillar in the third quarter valued at $35,000. Finally, RiverPark Advisors LLC acquired a new stake in Caterpillar during the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CAT shares. UBS Group reiterated a “neutral” rating and issued a $677.00 price objective on shares of Caterpillar in a report on Monday, February 2nd. Raymond James Financial reaffirmed a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Williams Trading set a $825.00 price target on Caterpillar in a report on Tuesday. Daiwa Securities Group raised their price objective on Caterpillar from $640.00 to $790.00 in a research note on Wednesday, February 25th. Finally, Barclays lifted their price objective on Caterpillar from $610.00 to $625.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Sixteen investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

Caterpillar Trading Down 1.0%

NYSE:CAT opened at $693.89 on Friday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $789.81. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The company has a market cap of $322.86 billion, a PE ratio of 36.87, a P/E/G ratio of 1.64 and a beta of 1.54. The business’s 50 day moving average is $693.92 and its two-hundred day moving average is $585.00.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share (EPS) 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 business had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the company posted $5.14 EPS. The business’s revenue was up 17.9% compared to the same quarter last year. On average, analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Insiders Place Their Bets

In related news, insider Denise C. Johnson sold 39,138 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $681.08, for a total transaction of $26,656,109.04. Following the completion of the sale, the insider owned 43,350 shares of the company’s stock, valued at $29,524,818. This represents a 47.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 10,671 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $680.45, for a total transaction of $7,261,081.95. Following the completion of the transaction, the insider directly owned 41,151 shares in the company, valued at $28,001,197.95. This represents a 20.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 135,950 shares of company stock worth $94,327,990. Corporate insiders own 0.33% of the company’s stock.

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.