Cim Investment Management Inc. Sells 3,879 Shares of Caterpillar Inc. $CAT

Cim Investment Management Inc. lessened its position in Caterpillar Inc. (NYSE:CAT) by 50.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,783 shares of the industrial products company’s stock after selling 3,879 shares during the quarter. Caterpillar accounts for 0.5% of Cim Investment Management Inc.’s portfolio, making the stock its 29th largest position. Cim Investment Management Inc.’s holdings in Caterpillar were worth $1,805,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CAT. Marquette Asset Management LLC raised its holdings in shares of Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 53 shares in the last quarter. Joseph Group Capital Management acquired a new position in shares of Caterpillar in the 3rd quarter valued at $32,000. Kilter Group LLC purchased a new position in shares of Caterpillar in the second quarter worth about $27,000. Sellwood Investment Partners LLC purchased a new position in Caterpillar during the 3rd quarter worth approximately $35,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Caterpillar during the second quarter worth $32,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT opened at $703.53 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44. The firm has a market cap of $327.34 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 1.65 and a beta of 1.54. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $789.81. The company’s 50 day simple moving average is $697.19 and its 200-day simple moving average is $589.94.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.49. The business had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.14 earnings per share. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity

In related news, insider Denise C. Johnson sold 39,138 shares of Caterpillar stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $681.08, for a total transaction of $26,656,109.04. Following the completion of the transaction, the insider directly owned 43,350 shares of the company’s stock, valued at approximately $29,524,818. The trade was a 47.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Joseph E. Creed sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $718.93, for a total value of $1,797,325.00. Following the completion of the sale, the chief executive officer directly owned 35,083 shares in the company, valued at approximately $25,222,221.19. The trade was a 6.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 135,950 shares of company stock valued at $94,327,990 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Oppenheimer raised their price objective on shares of Caterpillar from $729.00 to $817.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Bank of America upped their price objective on shares of Caterpillar from $735.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Wolfe Research boosted their price target on shares of Caterpillar from $470.00 to $670.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Raymond James Financial restated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Finally, Morgan Stanley boosted their target price on Caterpillar from $400.00 to $425.00 and gave the company an “underweight” rating in a research report on Tuesday, February 3rd. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $730.50.

About Caterpillar

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.