Ranch Capital Advisors Inc. Trims Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Ranch Capital Advisors Inc. cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 7.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,698 shares of the industrial products company’s stock after selling 144 shares during the period. Ranch Capital Advisors Inc.’s holdings in Caterpillar were worth $565,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CAT. Richardson Financial Services Inc. purchased a new position in shares of Caterpillar during the fourth quarter worth $27,000. Thompson Investment Management Inc. purchased a new stake in Caterpillar during the first quarter worth about $27,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Caterpillar during the second quarter worth about $28,000. Financial Connections Group Inc. purchased a new position in shares of Caterpillar in the second quarter valued at approximately $28,000. Finally, Fairman Group LLC acquired a new position in shares of Caterpillar in the first quarter valued at approximately $29,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAT shares. Citigroup initiated coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective on the stock. Bank of America lowered their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Evercore ISI decreased their price objective on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. UBS Group raised their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Finally, Raymond James started coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $336.31.

Insiders Place Their Bets

In related news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,668 shares of company stock worth $2,665,760. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 5.2 %

Shares of CAT stock opened at $373.41 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The firm has a market capitalization of $182.62 billion, a PE ratio of 16.86, a P/E/G ratio of 1.56 and a beta of 1.10. The business’s fifty day moving average price is $343.01 and its 200 day moving average price is $344.54.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $5.55 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar declared that its board has approved a share repurchase program on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.