Columbia Asset Management Has $6.15 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Columbia Asset Management trimmed its position in Caterpillar Inc. (NYSE:CAT) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,946 shares of the industrial products company’s stock after selling 1,184 shares during the period. Caterpillar makes up approximately 1.1% of Columbia Asset Management’s investment portfolio, making the stock its 23rd largest holding. Columbia Asset Management’s holdings in Caterpillar were worth $6,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CAT. Vanguard Group Inc. lifted its stake in Caterpillar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after acquiring an additional 284,366 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Caterpillar by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock worth $3,790,841,000 after purchasing an additional 236,315 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Caterpillar by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock worth $3,294,505,000 after purchasing an additional 129,143 shares during the last quarter. Norges Bank bought a new position in Caterpillar in the fourth quarter valued at $2,184,364,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Caterpillar by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,289,101 shares of the industrial products company’s stock valued at $1,193,154,000 after buying an additional 61,723 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CAT shares. Bank of America lowered their target price on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Citigroup increased their price objective on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, January 31st. Jefferies Financial Group boosted their target price on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. DA Davidson lifted their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Truist Financial dropped their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average target price of $383.80.

Caterpillar Stock Performance

NYSE:CAT opened at $330.40 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $352.51 and a 200 day simple moving average of $372.33. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The stock has a market cap of $157.91 billion, a P/E ratio of 14.97, a PEG ratio of 1.87 and a beta of 1.15.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $365.57 per share, with a total value of $36,557.00. Following the acquisition, the director now owns 3,053 shares in the company, valued at $1,116,085.21. This trade represents a 3.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

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.