CIBC Asset Management Inc Sells 3,294 Shares of Caterpillar Inc. (CAT)

CIBC Asset Management Inc lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 5.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 53,321 shares of the industrial products company’s stock after selling 3,294 shares during the period. CIBC Asset Management Inc’s holdings in Caterpillar were worth $6,775,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CAT. Oregon Public Employees Retirement Fund grew its holdings in shares of Caterpillar by 6,835.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,054,500 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 8,923,946 shares during the last quarter. Sanders Capital LLC bought a new position in shares of Caterpillar during the 4th quarter valued at $422,262,000. Capital Research Global Investors grew its holdings in shares of Caterpillar by 289.4% during the 3rd quarter. Capital Research Global Investors now owns 3,934,537 shares of the industrial products company’s stock valued at $599,978,000 after purchasing an additional 2,924,169 shares during the last quarter. LSV Asset Management grew its holdings in shares of Caterpillar by 3,805.2% during the 4th quarter. LSV Asset Management now owns 620,926 shares of the industrial products company’s stock valued at $78,901,000 after purchasing an additional 605,026 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of Caterpillar by 323.4% during the 4th quarter. Boston Partners now owns 738,367 shares of the industrial products company’s stock valued at $93,824,000 after purchasing an additional 563,996 shares during the last quarter. 66.16% of the stock is currently owned by institutional investors.

NYSE:CAT opened at $132.67 on Friday. Caterpillar Inc. has a 12 month low of $112.06 and a 12 month high of $161.60. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.37 and a quick ratio of 0.96. The stock has a market capitalization of $76.36 billion, a PE ratio of 11.82, a P/E/G ratio of 0.59 and a beta of 1.47.

Caterpillar (NYSE:CAT) last posted its earnings results on Monday, January 28th. The industrial products company reported $2.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.98 by ($0.43). Caterpillar had a return on equity of 45.31% and a net margin of 11.23%. The company had revenue of $14.34 billion during the quarter, compared to analysts’ expectations of $14.36 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts forecast that Caterpillar Inc. will post 12.24 earnings per share for the current year.

Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Caterpillar from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. ValuEngine raised shares of Caterpillar from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. UBS Group cut shares of Caterpillar from a “buy” rating to a “sell” rating and dropped their price target for the company from $154.00 to $125.00 in a research report on Tuesday, February 26th. OTR Global cut shares of Caterpillar to a “positive” rating in a research report on Friday, February 15th. Finally, Credit Suisse Group reissued a “buy” rating and set a $173.00 price target on shares of Caterpillar in a research report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Caterpillar has a consensus rating of “Hold” and a consensus target price of $150.24.

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Caterpillar 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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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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