CIBC Private Wealth Group LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,962 shares of the industrial products company’s stock after selling 15,972 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Caterpillar were worth $4,569,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bristlecone Advisors LLC acquired a new position in shares of Caterpillar during the third quarter valued at $912,000. GSB Wealth Management LLC acquired a new position in shares of Caterpillar during the third quarter valued at $305,000. IFM Investors Pty Ltd lifted its stake in shares of Caterpillar by 16.7% during the third quarter. IFM Investors Pty Ltd now owns 31,594 shares of the industrial products company’s stock valued at $4,818,000 after acquiring an additional 4,527 shares during the period. Culbertson A N & Co. Inc. lifted its stake in shares of Caterpillar by 2.5% during the third quarter. Culbertson A N & Co. Inc. now owns 39,567 shares of the industrial products company’s stock valued at $6,034,000 after acquiring an additional 950 shares during the period. Finally, St. Johns Investment Management Company LLC acquired a new position in shares of Caterpillar during the third quarter valued at $106,000. Hedge funds and other institutional investors own 68.90% of the company’s stock.
NYSE CAT opened at $136.20 on Tuesday. The stock has a market cap of $80.37 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.60 and a beta of 1.46. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 1.78. Caterpillar Inc. has a one year low of $112.06 and a one year high of $164.60.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 20th. Investors of record on Tuesday, January 22nd will be issued a dividend of $0.86 per share. The ex-dividend date is Friday, January 18th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.53%. Caterpillar’s payout ratio is presently 30.66%.
Several equities analysts have weighed in on the company. Bank of America raised Caterpillar from a “neutral” rating to a “buy” rating and increased their target price for the company from $140.00 to $163.00 in a research note on Monday, December 3rd. Robert W. Baird set a $161.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, January 29th. Credit Suisse Group cut their target price on Caterpillar from $210.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Wells Fargo & Co set a $145.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Wednesday, October 24th. Finally, Citigroup cut their target price on Caterpillar from $175.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $151.50.
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Caterpillar Company Profile
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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