Caterpillar Inc. (NYSE:CAT) Stake Lowered by FineMark National Bank & Trust

FineMark National Bank & Trust decreased its stake in Caterpillar Inc. (NYSE:CAT) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,395 shares of the industrial products company’s stock after selling 1,989 shares during the period. Caterpillar accounts for 0.8% of FineMark National Bank & Trust’s portfolio, making the stock its 29th largest position. FineMark National Bank & Trust’s holdings in Caterpillar were worth $21,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Ashton Thomas Securities LLC grew its holdings in Caterpillar by 16.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 655 shares of the industrial products company’s stock worth $240,000 after buying an additional 93 shares in the last quarter. Modern Wealth Management LLC boosted its position in Caterpillar by 12.3% during the 4th quarter. Modern Wealth Management LLC now owns 9,935 shares of the industrial products company’s stock worth $3,608,000 after acquiring an additional 1,087 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of Caterpillar during the fourth quarter valued at $448,000. Grantvest Financial Group LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at about $289,000. Finally, Interchange Capital Partners LLC lifted its holdings in Caterpillar by 12.6% in the fourth quarter. Interchange Capital Partners LLC now owns 1,137 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Up 1.8 %

Caterpillar stock opened at $341.83 on Tuesday. The company has a 50 day moving average price of $358.19 and a 200 day moving average price of $372.36. 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 Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The firm has a market capitalization of $163.37 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Analyst Ratings Changes

CAT has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of 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. cut their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley cut their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $383.80.

Insider Activity

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was 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 directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Caterpillar 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.