RNC Capital Management LLC Invests $376,000 in Caterpillar Inc. (NYSE:CAT)

RNC Capital Management LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,758 shares of the industrial products company’s stock, valued at approximately $376,000.

Several other hedge funds also recently modified their holdings of CAT. Sound Income Strategies LLC lifted its holdings in Caterpillar by 23.5% during the 2nd quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock worth $52,000 after buying an additional 72 shares in the last quarter. LexAurum Advisors LLC lifted its holdings in Caterpillar by 4.7% during the 2nd quarter. LexAurum Advisors LLC now owns 1,700 shares of the industrial products company’s stock worth $232,000 after buying an additional 77 shares in the last quarter. Claro Advisors LLC lifted its holdings in Caterpillar by 3.5% during the 2nd quarter. Claro Advisors LLC now owns 2,341 shares of the industrial products company’s stock worth $319,000 after buying an additional 79 shares in the last quarter. Oakworth Capital Inc. lifted its holdings in Caterpillar by 11.0% during the 1st quarter. Oakworth Capital Inc. now owns 808 shares of the industrial products company’s stock worth $109,000 after buying an additional 80 shares in the last quarter. Finally, Cambridge Trust Co. lifted its holdings in Caterpillar by 3.5% during the 1st quarter. Cambridge Trust Co. now owns 2,425 shares of the industrial products company’s stock worth $329,000 after buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 65.80% of the company’s stock.

Shares of NYSE CAT traded down $2.91 during mid-day trading on Monday, reaching $121.63. The company had a trading volume of 272,276 shares, compared to its average volume of 4,265,523. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a 50 day simple moving average of $134.01. The stock has a market cap of $71.22 billion, a PE ratio of 10.82, a P/E/G ratio of 0.88 and a beta of 1.52. Caterpillar Inc. has a 52-week low of $112.06 and a 52-week high of $159.37.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.12 by ($0.29). Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The business had revenue of $14.43 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the previous year, the business posted $2.97 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts predict that Caterpillar Inc. will post 11.73 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. UBS Group reduced their price objective on shares of Caterpillar from $125.00 to $115.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Goldman Sachs Group restated a “buy” rating and issued a $156.00 price objective on shares of Caterpillar in a report on Thursday, July 25th. Wells Fargo & Co reduced their price objective on shares of Caterpillar from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Morgan Stanley reduced their price objective on shares of Caterpillar from $165.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $144.23.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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