Columbia Asset Management Sells 1,184 Shares of Caterpillar Inc. (NYSE:CAT)

Columbia Asset Management cut its holdings in Caterpillar Inc. (NYSE:CAT) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,946 shares of the industrial products company’s stock after selling 1,184 shares during the quarter. Caterpillar makes up approximately 1.1% of Columbia Asset Management’s holdings, making the stock its 23rd biggest holding. Columbia Asset Management’s holdings in Caterpillar were worth $6,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Caterpillar by 0.7% in the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock valued at $285,382,000 after buying an additional 5,371 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Caterpillar during the 3rd quarter valued at $393,000. Benjamin Edwards Inc. grew its position in Caterpillar by 976.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 31,796 shares of the industrial products company’s stock worth $12,441,000 after acquiring an additional 28,841 shares during the last quarter. Ascent Group LLC increased its holdings in Caterpillar by 19.4% in the 3rd quarter. Ascent Group LLC now owns 1,138 shares of the industrial products company’s stock worth $445,000 after purchasing an additional 185 shares in the last quarter. Finally, Hilltop Holdings Inc. raised its position in Caterpillar by 38.8% in the third quarter. Hilltop Holdings Inc. now owns 3,982 shares of the industrial products company’s stock valued at $1,557,000 after purchasing an additional 1,113 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 0.2 %

Shares of NYSE CAT opened at $330.40 on Wednesday. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month 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 firm has a market cap of $157.91 billion, a PE ratio of 14.97, a P/E/G ratio of 1.87 and a beta of 1.15. The company’s fifty day simple moving average is $352.51 and its 200 day simple moving average is $372.33.

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

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average cost 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 $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CAT. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Citigroup upped their price target on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Morgan Stanley cut their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the company from $355.00 to $385.00 in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Caterpillar presently 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.