Frank Rimerman Advisors LLC decreased its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) 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.
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.
Check Out Our Latest Stock Analysis on CAT
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.
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