Neville Rodie & Shaw Inc. Trims Stock Position in Caterpillar Inc. $CAT

Neville Rodie & Shaw Inc. cut its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,679 shares of the industrial products company’s stock after selling 466 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Caterpillar were worth $6,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CAT. Pacific Point Advisors LLC purchased a new position in Caterpillar during the fourth quarter worth about $579,000. Brighton Jones LLC increased its stake in Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock worth $2,688,000 after acquiring an additional 2,519 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in Caterpillar during the fourth quarter worth about $11,363,000. Raiffeisen Bank International AG acquired a new stake in Caterpillar during the fourth quarter worth about $3,240,000. Finally, Rafferty Asset Management LLC increased its stake in Caterpillar by 12.0% during the fourth quarter. Rafferty Asset Management LLC now owns 45,547 shares of the industrial products company’s stock worth $16,523,000 after acquiring an additional 4,889 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of NYSE CAT opened at $431.10 on Friday. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $441.15. The business has a 50 day moving average price of $420.04 and a two-hundred day moving average price of $365.16. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a market cap of $201.96 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41.

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 analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same quarter last year, the business earned $5.99 EPS. Caterpillar’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. This trade represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,653 shares of company stock worth $8,943,642 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Jefferies Financial Group restated a “buy” rating and set a $500.00 price target on shares of Caterpillar in a research note on Friday, August 29th. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and upped their price target for the stock from $272.00 to $357.00 in a research note on Friday, May 16th. Citigroup upped their price target on Caterpillar from $460.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Barclays upped their price target on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Oppenheimer lowered their target price on Caterpillar from $493.00 to $480.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $457.20.

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.