Reliant Investment Management LLC Purchases 860 Shares of Caterpillar Inc. $CAT

Reliant Investment Management LLC increased its position in Caterpillar Inc. (NYSE:CAT) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,690 shares of the industrial products company’s stock after purchasing an additional 860 shares during the period. Caterpillar makes up approximately 2.5% of Reliant Investment Management LLC’s holdings, making the stock its 20th biggest position. Reliant Investment Management LLC’s holdings in Caterpillar were worth $5,703,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Aire Advisors LLC boosted its stake in Caterpillar by 0.3% in the 2nd quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock worth $3,510,000 after purchasing an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its position in Caterpillar by 0.5% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after buying an additional 25 shares during the last quarter. GSB Wealth Management LLC raised its position in Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after buying an additional 26 shares during the last quarter. Verum Partners LLC raised its position in Caterpillar by 2.5% in the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after buying an additional 26 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors raised its position in Caterpillar by 0.8% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after buying an additional 27 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,985 shares of company stock worth $25,559,300 in the last three months. 0.33% of the stock is owned by company insiders.

Caterpillar Trading Down 2.1%

CAT stock opened at $513.70 on Thursday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $544.99. 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 company has a market capitalization of $240.66 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.99 and a beta of 1.46. The business has a 50 day simple moving average of $460.10 and a two-hundred day simple moving average of $394.97.

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

Caterpillar Dividend Announcement

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

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Caterpillar from $505.00 to $650.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Royal Bank Of Canada assumed coverage on shares of Caterpillar in a research report on Wednesday. They set a “sector perform” rating and a $560.00 price target for the company. Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Barclays upped their price target on shares of Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a research report on Friday, October 17th. Finally, Citigroup upped their price target on shares of Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $518.19.

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.