RNC Capital Management LLC Raises Holdings in Caterpillar Inc. (NYSE:CAT)

RNC Capital Management LLC boosted its stake in shares of Caterpillar Inc. (NYSE:CATGet Rating) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,090 shares of the industrial products company’s stock after purchasing an additional 240 shares during the quarter. RNC Capital Management LLC’s holdings in Caterpillar were worth $1,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Camden National Bank increased its holdings in shares of Caterpillar by 9.6% in the 4th quarter. Camden National Bank now owns 1,833 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 160 shares during the last quarter. Morgan Stanley increased its holdings in shares of Caterpillar by 16.6% in the 2nd quarter. Morgan Stanley now owns 5,070,449 shares of the industrial products company’s stock valued at $1,103,482,000 after acquiring an additional 721,439 shares during the last quarter. Atwood & Palmer Inc. increased its holdings in shares of Caterpillar by 2.3% in the 3rd quarter. Atwood & Palmer Inc. now owns 3,268 shares of the industrial products company’s stock valued at $627,000 after acquiring an additional 75 shares during the last quarter. Keudell Morrison Wealth Management increased its holdings in shares of Caterpillar by 2.9% in the 3rd quarter. Keudell Morrison Wealth Management now owns 5,931 shares of the industrial products company’s stock valued at $1,139,000 after acquiring an additional 165 shares during the last quarter. Finally, Naples Global Advisors LLC increased its holdings in shares of Caterpillar by 3.8% in the 3rd quarter. Naples Global Advisors LLC now owns 8,820 shares of the industrial products company’s stock valued at $1,693,000 after acquiring an additional 319 shares during the last quarter. Institutional investors own 67.11% of the company’s stock.

In other Caterpillar news, General Counsel Suzette M. Long sold 40,356 shares of the firm’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $220.00, for a total transaction of $8,878,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gary Michael Marvel sold 674 shares of the firm’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $203.11, for a total value of $136,896.14. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

NYSE CAT traded up $1.32 during mid-day trading on Tuesday, hitting $231.24. The stock had a trading volume of 55,792 shares, compared to its average volume of 3,868,795. Caterpillar Inc. has a 52-week low of $179.67 and a 52-week high of $246.69. The company has a market cap of $123.92 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 1.54 and a beta of 0.96. The company has a 50 day simple moving average of $209.93 and a 200 day simple moving average of $206.97. The company has a quick ratio of 0.99, a current ratio of 1.46 and a debt-to-equity ratio of 1.58.

Caterpillar (NYSE:CATGet Rating) last released its quarterly earnings data on Friday, January 28th. The industrial products company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.46. Caterpillar had a return on equity of 35.57% and a net margin of 12.73%. The firm had revenue of $13.80 billion during the quarter, compared to the consensus estimate of $13.22 billion. During the same period last year, the business posted $2.12 EPS. Caterpillar’s quarterly revenue was up 22.8% on a year-over-year basis. As a group, equities analysts anticipate that Caterpillar Inc. will post 12.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Monday, April 25th will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Friday, April 22nd. Caterpillar’s payout ratio is currently 37.50%.

A number of analysts recently issued reports on CAT shares. Tigress Financial upped their target price on Caterpillar from $270.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, February 3rd. Jefferies Financial Group raised Caterpillar from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $260.00 in a research report on Tuesday, March 8th. JPMorgan Chase & Co. upped their target price on Caterpillar from $241.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, March 28th. Deutsche Bank Aktiengesellschaft increased their price objective on Caterpillar from $242.00 to $250.00 in a research report on Thursday, April 14th. Finally, Wells Fargo & Company initiated coverage on Caterpillar in a research report on Friday, March 11th. They set an “equal weight” rating and a $231.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $242.67.

About Caterpillar (Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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