CIBC Private Wealth Group LLC Lowers Stake in Caterpillar Inc. (NYSE:CAT)

CIBC Private Wealth Group LLC lessened its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,279 shares of the industrial products company's stock after selling 1,148 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Caterpillar were worth $14,905,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its position in shares of Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company's stock worth $231,686,000 after purchasing an additional 10,212 shares during the last quarter. West Wealth Group LLC purchased a new position in Caterpillar during the fourth quarter worth about $230,000. Cadinha & Co. LLC acquired a new stake in shares of Caterpillar during the fourth quarter valued at about $11,084,000. Atomi Financial Group Inc. raised its stake in shares of Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company's stock valued at $8,414,000 after acquiring an additional 871 shares during the period. Finally, Copley Financial Group Inc. acquired a new position in shares of Caterpillar in the 3rd quarter worth approximately $800,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Down 5.9 %

Shares of CAT traded down $18.19 during midday trading on Friday, reaching $287.57. The stock had a trading volume of 7,214,330 shares, compared to its average volume of 2,567,844. The company has a market cap of $137.44 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.87 and a beta of 1.21. The company's fifty day simple moving average is $346.83 and its two-hundred day simple moving average is $371.31. Caterpillar Inc. has a 1-year low of $281.50 and a 1-year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares of the company's stock, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company's stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CAT. Raymond James upgraded Caterpillar from a "market perform" rating to an "outperform" rating in a research note on Monday, February 3rd. Bank of America decreased their target price on Caterpillar from $452.00 to $414.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Citigroup lifted their target price on Caterpillar from $420.00 to $430.00 and gave the company a "buy" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on shares of Caterpillar from $515.00 to $490.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, UBS Group upgraded shares of Caterpillar from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $383.80.

Caterpillar Company Profile

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.