Associated Banc Corp Decreases Stake in Caterpillar Inc. (NYSE:CAT)

Associated Banc Corp cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,882 shares of the industrial products company’s stock after selling 3,845 shares during the quarter. Associated Banc Corp’s holdings in Caterpillar were worth $19,546,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. FSM Wealth Advisors LLC grew its position in shares of Caterpillar by 3.8% during the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 25 shares during the last quarter. Allen Capital Group LLC grew its position in shares of Caterpillar by 0.6% during the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after acquiring an additional 26 shares during the last quarter. Wagner Wealth Management LLC grew its position in shares of Caterpillar by 4.0% during the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 26 shares during the last quarter. Channel Wealth LLC grew its position in shares of Caterpillar by 1.9% during the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after acquiring an additional 27 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. grew its position in shares of Caterpillar by 0.6% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after acquiring an additional 27 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CAT shares. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Evercore ISI increased their price target on Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Jefferies Financial Group increased their price target on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. DA Davidson increased their price target on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America decreased their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and a consensus price target of $383.80.

Insider Transactions at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 2.1 %

NYSE:CAT opened at $340.46 on Friday. The company has a market capitalization of $162.72 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The stock has a fifty day simple moving average of $360.81 and a 200-day simple moving average of $372.35.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

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.