CCM Investment Advisers LLC Lowers Holdings in Caterpillar Inc. (NYSE:CAT)

CCM Investment Advisers LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,776 shares of the industrial products company’s stock after selling 2,930 shares during the quarter. Caterpillar makes up 2.3% of CCM Investment Advisers LLC’s portfolio, making the stock its 13th biggest holding. CCM Investment Advisers LLC’s holdings in Caterpillar were worth $20,596,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CAT. Acadian Asset Management LLC grew its stake in Caterpillar by 4.9% during the second quarter. Acadian Asset Management LLC now owns 9,483 shares of the industrial products company’s stock valued at $3,157,000 after acquiring an additional 446 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Caterpillar during the second quarter valued at about $729,000. Angeles Wealth Management LLC increased its holdings in shares of Caterpillar by 9.4% in the second quarter. Angeles Wealth Management LLC now owns 916 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 79 shares during the last quarter. AdvisorShares Investments LLC bought a new position in Caterpillar during the second quarter valued at approximately $421,000. Finally, LPL Financial LLC increased its stake in Caterpillar by 7.7% in the 2nd quarter. LPL Financial LLC now owns 836,044 shares of the industrial products company’s stock worth $278,486,000 after acquiring an additional 59,824 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America lifted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Caterpillar from $500.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Robert W. Baird raised their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $384.33.

Caterpillar Stock Down 2.9 %

NYSE:CAT traded down $10.35 during mid-day trading on Friday, reaching $350.72. The company’s stock had a trading volume of 1,045,783 shares, compared to its average volume of 1,528,154. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $169.33 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.92 and a beta of 1.13. The stock has a fifty day moving average of $382.73 and a 200-day moving average of $365.00. Caterpillar Inc. has a 1 year low of $276.94 and a 1 year high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same quarter last year, the company earned $5.52 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be given a dividend of $1.41 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.61%. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Buying and Selling

In other news, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the transaction, the insider now directly owns 12,951 shares in the company, valued at $4,906,356.84. The trade was a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was bought at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the purchase, the director now directly owns 2,953 shares in the company, valued at approximately $1,176,977.21. The trade was a 3.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 23,868 shares of company stock valued at $9,679,489 over the last ninety days. Company insiders own 0.29% of the company’s stock.

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.