CSM Advisors LLC Sells 17,015 Shares of Caterpillar Inc. $CAT

Key Points

• CSM Advisors cut its Caterpillar holding by 19%, selling 17,015 shares and leaving 72,313 shares valued at $34.505 million, representing about 1.0% of the firm's portfolio and its 24th largest holding.
• Insider selling has been heavy: CFO Andrew Bonfield sold 10,000 shares and Anthony Fassino sold 10,671 shares, with insiders offloading 135,950 shares (~$94.33 million) in the past three months, leaving insiders with 0.33% ownership.
• Caterpillar beat quarterly estimates (EPS $5.16 vs. $4.67; revenue $19.13B, up 17.9% YoY) and carries a consensus analyst rating of Moderate Buy with an average price target of $730.50.

CSM Advisors LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 19.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,313 shares of the industrial products company's stock after selling 17,015 shares during the period. Caterpillar accounts for about 1.0% of CSM Advisors LLC's investment portfolio, making the stock its 24th largest holding. CSM Advisors LLC's holdings in Caterpillar were worth $34,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Norges Bank bought a new position in Caterpillar during the 2nd quarter valued at approximately $2,165,899,000. Illinois Municipal Retirement Fund grew its stake in shares of Caterpillar by 7.3% in the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company's stock worth $8,237,000 after acquiring an additional 1,181 shares during the last quarter. Groupe la Francaise increased its holdings in shares of Caterpillar by 82.0% during the second quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company's stock valued at $10,820,000 after acquiring an additional 12,278 shares in the last quarter. Union Bancaire Privee UBP SA increased its holdings in shares of Caterpillar by 155.9% during the third quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company's stock valued at $21,014,000 after acquiring an additional 28,773 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Caterpillar in the 3rd quarter worth about $8,893,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $575.06, for a total transaction of $5,750,600.00. Following the transaction, the chief financial officer directly owned 45,460 shares of the company's stock, valued at $26,142,227.60. This represents a 18.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony D. Fassino sold 10,671 shares of Caterpillar stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $680.45, for a total value of $7,261,081.95. Following the completion of the sale, the insider directly owned 41,151 shares of the company's stock, valued at $28,001,197.95. The trade was a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 135,950 shares of company stock worth $94,327,990. Insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $693.89 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The company has a 50 day moving average price of $693.92 and a 200-day moving average price of $585.00. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $789.81. The firm has a market capitalization of $322.86 billion, a PE ratio of 36.87, a P/E/G ratio of 1.64 and a beta of 1.54.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts' consensus estimates of $4.67 by $0.49. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The company had revenue of $19.13 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the firm earned $5.14 earnings per share. The firm's revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CAT shares. Jefferies Financial Group raised their price objective on shares of Caterpillar from $785.00 to $825.00 and gave the company a "buy" rating in a research note on Friday, March 6th. UBS Group reiterated a "neutral" rating and issued a $677.00 target price on shares of Caterpillar in a research note on Monday, February 2nd. HSBC raised their price target on shares of Caterpillar from $660.00 to $850.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Evercore boosted their price objective on shares of Caterpillar from $476.00 to $630.00 and gave the stock an "outperform" rating in a report on Monday, November 17th. Finally, Morgan Stanley increased their target price on Caterpillar from $400.00 to $425.00 and gave the company an "underweight" rating in a research note on Tuesday, February 3rd. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $730.50.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company's product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.

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