Caterpillar Inc. $CAT Shares Newly Acquired by Reliant Investment Management LLC

Reliant Investment Management LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,770 shares of the industrial products company’s stock, valued at approximately $11,165,000. Caterpillar accounts for about 3.8% of Reliant Investment Management LLC’s holdings, making the stock its 9th biggest holding.

A number of other institutional investors have also made changes to their positions in CAT. Strategy Asset Managers LLC boosted its position in shares of Caterpillar by 376.4% during the third quarter. Strategy Asset Managers LLC now owns 1,172 shares of the industrial products company’s stock worth $951,000 after buying an additional 926 shares during the period. Godsey & Gibb Inc. grew its stake in shares of Caterpillar by 3,405.0% in the third quarter. Godsey & Gibb Inc. now owns 7,781 shares of the industrial products company’s stock valued at $6,309,000 after buying an additional 7,559 shares in the last quarter. Tempus Wealth Planning LLC raised its holdings in shares of Caterpillar by 27.2% in the 3rd quarter. Tempus Wealth Planning LLC now owns 295 shares of the industrial products company’s stock valued at $239,000 after buying an additional 63 shares during the period. Essex LLC purchased a new stake in shares of Caterpillar in the 3rd quarter valued at $744,000. Finally, Triumph Capital Management lifted its stake in Caterpillar by 9.9% during the 3rd quarter. Triumph Capital Management now owns 278 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 25 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Oppenheimer maintained an “outperform” rating and still sees substantial upside, although it lowered its price target to $1,009 from $1,118. Oppenheimer Caterpillar price-target update
• Positive Sentiment: Caterpillar maintained its quarterly dividend at $1.63 per share, payable November 19 to shareholders of record October 19. The company has paid annual cash dividends since its founding and quarterly dividends since 1933. Caterpillar Inc. Maintains Dividend

Caterpillar Trading Down 3.3%

NYSE CAT opened at $747.18 on Thursday. Caterpillar Inc. has a 52 week low of $510.21 and a 52 week high of $1,073.46. The firm has a 50 day moving average of $816.99 and a two-hundred day moving average of $855.96. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $343.46 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the business earned $4.72 EPS. As a group, research analysts expect that Caterpillar Inc. will post 27.49 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, October 19th. This represents a $6.52 dividend on an annualized basis and a yield of 0.9%. Caterpillar’s dividend payout ratio (DPR) is currently 28.06%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CAT shares. DA Davidson raised their target price on Caterpillar from $845.00 to $882.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Erste Group Bank lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Needham & Company LLC set a $980.00 price objective on shares of Caterpillar in a research note on Thursday, September 10th. Finally, Wells Fargo & Company raised their price objective on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the company an “overweight” rating in a research note on Tuesday, June 23rd. Fifteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $967.83.

Insider Activity

In other news, CEO Joseph E. Creed sold 32,401 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the transaction, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.