RNC Capital Management LLC Sells 28 Shares of Caterpillar Inc. $CAT

RNC Capital Management LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,252 shares of the industrial products company’s stock after selling 28 shares during the quarter. RNC Capital Management LLC’s holdings in Caterpillar were worth $1,651,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Trivium Point Advisory LLC boosted its holdings in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company’s stock valued at $748,000 after acquiring an additional 1,099 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company’s stock valued at $26,037,000 after acquiring an additional 7,125 shares in the last quarter. Palmer Knight Co bought a new stake in Caterpillar in the second quarter valued at $5,884,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company’s stock valued at $5,557,000 after acquiring an additional 1,440 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new stake in Caterpillar in the first quarter valued at $427,000. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is owned by insiders.

Caterpillar Price Performance

CAT opened at $513.70 on Thursday. The stock has a 50-day moving average price of $460.10 and a 200-day moving average price of $394.97. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The firm has a market cap of $240.66 billion, a PE ratio of 26.13, a P/E/G ratio of 2.99 and a beta of 1.46. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $544.99.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.Caterpillar’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.99 EPS. Sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be given a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a yield of 1.2%. Caterpillar’s payout ratio is 30.72%.

Analysts Set New Price Targets

Several equities analysts have commented on CAT shares. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Robert W. Baird raised their price objective on Caterpillar from $540.00 to $612.00 in a research report on Monday. UBS Group raised their price objective on Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Finally, Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a research report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Caterpillar has an average rating of “Moderate Buy” and a consensus price target of $518.19.

About Caterpillar

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.