CIBC Private Wealth Group LLC Sells 1,148 Shares of Caterpillar Inc. (NYSE:CAT)

CIBC Private Wealth Group LLC trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,279 shares of the industrial products company’s stock after selling 1,148 shares during the period. CIBC Private Wealth Group LLC’s holdings in Caterpillar were worth $14,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB increased its stake in 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 in the last quarter. West Wealth Group LLC bought a new stake in shares of Caterpillar during the fourth quarter worth $230,000. Cadinha & Co. LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth $11,084,000. Atomi Financial Group Inc. boosted its stake in Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after purchasing an additional 871 shares during the period. Finally, Copley Financial Group Inc. bought a new position in Caterpillar during the 3rd quarter worth about $800,000. 70.98% of the stock is currently owned by institutional investors.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’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 completion of the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the stock in a transaction on 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 transaction, the insider now 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 currently owned by corporate insiders.

Caterpillar Stock Performance

NYSE CAT opened at $330.14 on Tuesday. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The stock has a market cap of $157.78 billion, a PE ratio of 14.96, a P/E/G ratio of 1.87 and a beta of 1.15. The firm has a 50-day moving average of $353.87 and a 200-day moving average of $372.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on CAT shares. Citigroup upped their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price target 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. Bank of America lowered their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Truist Financial decreased their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock 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.