Hollencrest Capital Management Sells 222 Shares of Caterpillar Inc. (NYSE:CAT)

Hollencrest Capital Management trimmed its stake in Caterpillar Inc. (NYSE:CAT) by 13.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,446 shares of the industrial products company’s stock after selling 222 shares during the period. Hollencrest Capital Management’s holdings in Caterpillar were worth $482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Vanguard Group Inc. grew its position in Caterpillar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after acquiring an additional 129,216 shares during the last quarter. Capital World Investors increased its stake in shares of Caterpillar by 0.3% in the fourth quarter. Capital World Investors now owns 29,029,953 shares of the industrial products company’s stock valued at $8,583,372,000 after buying an additional 96,479 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Caterpillar by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock valued at $2,406,471,000 after buying an additional 173,108 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after buying an additional 165,358 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in Caterpillar by 6.3% during the 1st quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after acquiring an additional 119,326 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gerald Johnson purchased 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the transaction, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock valued at $2,665,760 in the last quarter. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on CAT. Citigroup began coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 price target on the stock. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Raymond James assumed coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Bank of America dropped their price objective on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $336.31.

Caterpillar Stock Up 5.2 %

Shares of Caterpillar stock opened at $373.41 on Friday. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The company has a market capitalization of $182.62 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The business has a 50-day moving average of $343.01 and a two-hundred day moving average of $344.54.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.55 earnings per share. As a group, equities analysts predict that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar declared that its board has authorized a stock repurchase program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.