Cannon Advisors Inc. Decreases Position in Caterpillar Inc. (NYSE:CAT)

Cannon Advisors Inc. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,215 shares of the industrial products company’s stock after selling 261 shares during the period. Caterpillar makes up 2.8% of Cannon Advisors Inc.’s holdings, making the stock its 13th largest position. Cannon Advisors Inc.’s holdings in Caterpillar were worth $3,343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Caterpillar by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock valued at $3,790,841,000 after purchasing an additional 236,315 shares during the last quarter. Diametric Capital LP acquired a new position in Caterpillar during the 4th quarter valued at approximately $350,000. Nemes Rush Group LLC raised its holdings in shares of Caterpillar by 1.9% in the fourth quarter. Nemes Rush Group LLC now owns 6,745 shares of the industrial products company’s stock worth $2,447,000 after buying an additional 123 shares during the last quarter. StoneX Group Inc. lifted its stake in shares of Caterpillar by 71.8% during the fourth quarter. StoneX Group Inc. now owns 22,867 shares of the industrial products company’s stock worth $8,295,000 after buying an additional 9,558 shares during the period. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Caterpillar by 1.9% during the fourth quarter. HighPoint Advisor Group LLC now owns 36,493 shares of the industrial products company’s stock valued at $13,219,000 after buying an additional 665 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of NYSE CAT opened at $330.14 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The firm has a fifty day moving average of $353.87 and a 200 day moving average of $372.44. The firm has a market cap of $157.78 billion, a PE ratio of 14.96, a PEG ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Evercore ISI lifted their price target on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Bank of America decreased their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. DA Davidson increased their price target on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group boosted their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar has an average rating of “Hold” and a consensus target price of $383.80.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 in the company, valued at $2,225,742.50. This represents a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on 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 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. This trade represents a 18.12 % 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 insiders.

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.