RNC Capital Management LLC Sells 40 Shares of Caterpillar Inc. (NYSE:CAT)

RNC Capital Management LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,476 shares of the industrial products company’s stock after selling 40 shares during the quarter. RNC Capital Management LLC’s holdings in Caterpillar were worth $732,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC increased its position in shares of Caterpillar by 130,632.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock valued at $2,343,859,000 after acquiring an additional 9,776,533 shares during the last quarter. Northern Trust Corp raised its stake in Caterpillar by 1.6% in the third quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after buying an additional 111,384 shares during the period. Morgan Stanley raised its stake in Caterpillar by 0.7% in the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after buying an additional 47,258 shares during the period. FMR LLC raised its stake in Caterpillar by 14.9% in the third quarter. FMR LLC now owns 6,038,207 shares of the industrial products company’s stock valued at $1,648,431,000 after buying an additional 781,111 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Caterpillar by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 5,440,783 shares of the industrial products company’s stock valued at $892,724,000 after buying an additional 92,360 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CAT shares. Truist Financial started coverage on Caterpillar in a research note on Thursday, March 14th. They issued a “buy” rating and a $390.00 price objective on the stock. Wells Fargo & Company increased their target price on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. increased their target price on Caterpillar from $345.00 to $385.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Citigroup increased their target price on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, TD Cowen increased their price target on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $297.89.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Maclennan bought 350 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was acquired at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the purchase, the director now directly owns 5,238 shares in the company, valued at $1,693,812.06. The disclosure for this purchase can be found here. In the last quarter, insiders sold 45,769 shares of company stock worth $14,509,306. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

CAT stock opened at $364.65 on Thursday. The stock has a 50-day moving average price of $325.46 and a 200-day moving average price of $287.19. Caterpillar Inc. has a 1-year low of $204.04 and a 1-year high of $365.52. The company has a current ratio of 1.35, a quick ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a market cap of $182.11 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.47. The business had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.86 EPS. As a group, equities research analysts expect that Caterpillar Inc. will post 21.25 earnings per share for the current year.

Caterpillar Company Profile

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.