Frank Rimerman Advisors LLC Sells 6,293 Shares of Caterpillar Inc. (NYSE:CAT)

Frank Rimerman Advisors LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 54.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,190 shares of the industrial products company’s stock after selling 6,293 shares during the period. Frank Rimerman Advisors LLC’s holdings in Caterpillar were worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CAT. Nordea Investment Management AB boosted its stake in shares of Caterpillar by 1.6% during the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after purchasing an additional 10,212 shares during the period. West Wealth Group LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at $230,000. Citizens Financial Group Inc. RI boosted its stake in shares of Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock valued at $5,437,000 after purchasing an additional 4,181 shares during the period. Cadinha & Co. LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at $11,084,000. Finally, Atomi Financial Group Inc. boosted its stake in shares of Caterpillar by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after purchasing an additional 871 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

CAT opened at $340.46 on Friday. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The company has a market cap of $162.72 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The firm’s 50-day moving average price is $360.81 and its 200-day moving average price is $372.35.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerald Johnson acquired 100 shares of the stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the transaction, the director now owns 3,053 shares in the company, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CAT shares. Morgan Stanley lowered their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Evercore ISI upped their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Jefferies Financial Group upped their price objective on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to 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.