Relyea Zuckerberg Hanson LLC Sells 49 Shares of Caterpillar Inc. $CAT

Relyea Zuckerberg Hanson LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 2.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,633 shares of the industrial products company’s stock after selling 49 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Caterpillar were worth $634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Compass Financial Services Inc raised its stake in Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC purchased a new stake in Caterpillar during the 2nd quarter valued at approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $33,000. Fiduciary Wealth Partners LLC purchased a new position in shares of Caterpillar in the first quarter worth $45,000. Finally, Maseco LLP bought a new position in shares of Caterpillar during the second quarter worth $45,000. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the 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 sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction dated 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 transaction, the chairman directly owned 482,505 shares of the company’s stock, 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 over the last quarter. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 1.6%

Shares of CAT stock opened at $498.48 on Monday. The company has a market cap of $233.53 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.03 and a beta of 1.46. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $504.48. The stock’s 50 day simple moving average is $436.99 and its two-hundred day simple moving average is $379.06. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CAT shares. DA Davidson lifted their price target on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. 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. Jefferies Financial Group restated a “buy” rating and set a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Finally, Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $466.53.

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.