Boltwood Capital Management Sells 95 Shares of Caterpillar Inc. (NYSE:CAT)


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Boltwood Capital Management decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,179 shares of the industrial products company’s stock after selling 95 shares during the quarter. Caterpillar comprises approximately 1.0% of Boltwood Capital Management’s investment portfolio, making the stock its 28th largest position. Boltwood Capital Management’s holdings in Caterpillar were worth $2,360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Caterpillar by 109.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,041,360 shares of the industrial products company’s stock worth $2,373,788,000 after purchasing an additional 6,803,900 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Caterpillar by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 6,188,027 shares of the industrial products company’s stock worth $1,126,345,000 after purchasing an additional 194,728 shares during the last quarter. FMR LLC raised its holdings in Caterpillar by 42.3% during the 4th quarter. FMR LLC now owns 6,019,787 shares of the industrial products company’s stock worth $1,095,721,000 after purchasing an additional 1,788,783 shares during the last quarter. Morgan Stanley raised its holdings in Caterpillar by 11.9% during the 4th quarter. Morgan Stanley now owns 4,867,473 shares of the industrial products company’s stock worth $885,977,000 after purchasing an additional 519,151 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Caterpillar in the 4th quarter valued at $878,514,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Several research firms have recently weighed in on CAT. Jefferies Financial Group lifted their price objective on shares of Caterpillar from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, January 15th. Robert W. Baird lifted their price objective on shares of Caterpillar to $220.00 in a research note on Wednesday, December 30th. Stifel Nicolaus lifted their price objective on shares of Caterpillar from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 15th. Barclays lifted their price objective on shares of Caterpillar from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, January 15th. Finally, Daiwa Capital Markets lowered shares of Caterpillar from an “outperform” rating to a “neutral” rating in a research note on Friday, March 5th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $182.05.

In other news, CAO Gary Michael Marvel sold 5,056 shares of Caterpillar stock in a transaction on Monday, March 8th. The stock was sold at an average price of $220.97, for a total transaction of $1,117,224.32. Following the sale, the chief accounting officer now directly owns 5,623 shares in the company, valued at approximately $1,242,514.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Denise C. Johnson sold 80,695 shares of Caterpillar stock in a transaction on Monday, March 8th. The stock was sold at an average price of $219.82, for a total value of $17,738,374.90. Following the sale, the insider now owns 38,945 shares in the company, valued at $8,560,889.90. The disclosure for this sale can be found here. Insiders have sold a total of 149,080 shares of company stock worth $32,650,920 over the last quarter. Company insiders own 0.31% of the company’s stock.

CAT traded down $1.81 during mid-day trading on Thursday, reaching $228.60. 41,981 shares of the stock were exchanged, compared to its average volume of 3,398,930. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.08 and a current ratio of 1.54. The stock has a market capitalization of $124.66 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The company has a 50 day moving average price of $222.41 and a two-hundred day moving average price of $186.67. Caterpillar Inc. has a 1 year low of $100.22 and a 1 year high of $237.78.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, January 28th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.63. The firm had revenue of $11.24 billion for the quarter, compared to the consensus estimate of $11.24 billion. Caterpillar had a net margin of 7.60% and a return on equity of 25.24%. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.63 EPS. Sell-side analysts expect that Caterpillar Inc. will post 5.44 EPS for the current fiscal year.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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