Reliant Investment Management LLC Has $5.70 Million Stock Holdings in Caterpillar Inc. $CAT

Reliant Investment Management LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 6.2% in 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 quarter. Caterpillar makes up about 2.5% of Reliant Investment Management LLC’s portfolio, making the stock its 20th largest holding. Reliant Investment Management LLC’s holdings in Caterpillar were worth $5,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CAT. Valeo Financial Advisors LLC grew its holdings in Caterpillar by 36,842.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares during the last quarter. Pacer Advisors Inc. increased its position in Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company’s stock valued at $466,430,000 after acquiring an additional 1,364,183 shares during the period. Nuveen LLC acquired a new position in Caterpillar in the 1st quarter valued at approximately $391,788,000. Assenagon Asset Management S.A. increased its position in Caterpillar by 546.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock valued at $327,297,000 after acquiring an additional 712,711 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after acquiring an additional 268,300 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the business’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the sale, the chairman owned 448,173 shares in the company, valued at approximately $226,457,335.17. The trade was a 3.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,985 shares of company stock worth $25,559,300. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Caterpillar from $540.00 to $612.00 in a research report on Monday. Jefferies Financial Group upped their price target on shares of Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Royal Bank Of Canada began coverage on shares of Caterpillar in a research note on Wednesday. They issued a “sector perform” rating and a $560.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of Caterpillar from $450.00 to $506.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Caterpillar currently has a consensus rating of “Moderate Buy” and an average target price of $518.19.

Caterpillar Stock Down 2.1%

Shares of Caterpillar stock opened at $513.70 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The company’s fifty day simple moving average is $460.10 and its two-hundred day simple moving average is $394.97. The company has a market cap of $240.66 billion, a P/E ratio of 26.13, a PEG ratio of 2.99 and a beta of 1.46. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99.

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

Caterpillar Dividend Announcement

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

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.