Relyea Zuckerberg Hanson LLC Cuts Position in Caterpillar Inc. $CAT

Relyea Zuckerberg Hanson LLC lowered its stake in Caterpillar Inc. (NYSE:CAT) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,633 shares of the industrial products company’s stock after selling 49 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Caterpillar were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CAT. Pacific Point Advisors LLC bought a new position in Caterpillar in the 4th quarter worth about $579,000. Brighton Jones LLC raised its holdings in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after buying an additional 2,519 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Caterpillar by 5.9% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,460 shares of the industrial products company’s stock worth $482,000 after buying an additional 81 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of Caterpillar by 2.0% during the first quarter. Independence Bank of Kentucky now owns 2,172 shares of the industrial products company’s stock valued at $716,000 after buying an additional 42 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its position in shares of Caterpillar by 5.4% during the first quarter. Sivia Capital Partners LLC now owns 1,151 shares of the industrial products company’s stock valued at $380,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CAT shares. Jefferies Financial Group reiterated a “buy” rating and set a $500.00 target price on shares of Caterpillar in a research note on Friday, August 29th. Erste Group Bank raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird boosted their target price on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a research note on Tuesday, August 19th. Finally, Bank of America lifted their price target on shares of Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average target price of $466.53.

Insider Transactions at Caterpillar

In other news, insider Jason Kaiser sold 2,161 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Caterpillar Trading Up 1.6%

Shares of NYSE:CAT opened at $498.48 on Monday. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $504.48. The stock has a market capitalization of $233.53 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 3.03 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock’s 50-day simple moving average is $436.99 and its two-hundred day simple moving average is $379.06.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $5.99 EPS. Analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

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.