Nemes Rush Group LLC Sells 58 Shares of Caterpillar Inc. (NYSE:CAT)

Nemes Rush Group LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,639 shares of the industrial products company’s stock after selling 58 shares during the quarter. Nemes Rush Group LLC’s holdings in Caterpillar were worth $2,212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its position in shares of Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after buying an additional 1,327 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Caterpillar in the first quarter worth approximately $926,000. Natixis Advisors LLC raised its position in shares of Caterpillar by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after purchasing an additional 9,321 shares during the period. Bailard Inc. boosted its holdings in Caterpillar by 3.1% in the 2nd quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock worth $4,475,000 after buying an additional 398 shares during the period. Finally, M&G Plc purchased a new stake in Caterpillar in the 1st quarter worth $15,009,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $391.08 on Friday. The stock has a 50 day moving average price of $346.68 and a 200-day moving average price of $346.38. Caterpillar Inc. has a one year low of $223.76 and a one year high of $397.22. The stock has a market cap of $191.26 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. During the same quarter in the previous year, the business posted $5.55 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 21.91 EPS for the current year.

Caterpillar announced that its board has authorized a stock buyback plan on Wednesday, June 12th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently issued reports on CAT. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Raymond James initiated coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating for the company. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. UBS Group lifted their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, Citigroup assumed coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $336.31.

Insiders Place Their Bets

In other Caterpillar news, Director Gerald Johnson bought 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares in the company, valued at $962,272.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock valued at $2,665,760 over the last 90 days. Insiders own 0.33% of the company’s stock.

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.