Pinebridge Investments L.P. Has $8.35 Million Position in Caterpillar Inc. (NYSE:CAT)

Pinebridge Investments L.P. lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 84.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,026 shares of the industrial products company’s stock after selling 129,865 shares during the period. Pinebridge Investments L.P.’s holdings in Caterpillar were worth $8,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CAT. Vanguard Group Inc. grew its stake in Caterpillar by 0.6% during 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 grew its position in Caterpillar by 2.3% during the fourth 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 in the last quarter. Fisher Asset Management LLC grew its position 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 valued at $3,294,505,000 after purchasing an additional 129,143 shares in the last quarter. Norges Bank purchased a new stake in Caterpillar in the 4th quarter worth approximately $2,184,364,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Caterpillar by 1.9% during 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 period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CAT. Citigroup cut their price objective on Caterpillar from $430.00 to $320.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Bank of America cut their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Evercore ISI boosted their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Finally, Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $359.36.

Insiders Place Their Bets

In other news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on 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 owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average price of $365.57 per share, with a total value of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Caterpillar Trading Up 3.8 %

Caterpillar stock opened at $306.89 on Friday. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. 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 market capitalization of $146.67 billion, a PE ratio of 13.91, a PEG ratio of 1.87 and a beta of 1.21. The business’s 50-day simple moving average is $322.40 and its 200-day simple moving average is $361.21.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 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%. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Monday, April 21st will be issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, April 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

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.