Raleigh Capital Management Inc. Sells 85 Shares of Caterpillar Inc. $CAT

Raleigh Capital Management Inc. decreased its position in Caterpillar Inc. (NYSE:CAT) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,837 shares of the industrial products company’s stock after selling 85 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Caterpillar were worth $713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Spartan Planning & Wealth Management bought a new stake in Caterpillar in the 2nd quarter worth approximately $346,000. Kavar Capital Partners Group LLC lifted its position in Caterpillar by 1.6% in the 2nd quarter. Kavar Capital Partners Group LLC now owns 23,220 shares of the industrial products company’s stock worth $9,014,000 after buying an additional 355 shares during the last quarter. Venture Visionary Partners LLC lifted its position in Caterpillar by 1.3% in the 2nd quarter. Venture Visionary Partners LLC now owns 31,297 shares of the industrial products company’s stock worth $12,150,000 after buying an additional 409 shares during the last quarter. Smith Anglin Financial LLC lifted its position in Caterpillar by 1.7% in the 2nd quarter. Smith Anglin Financial LLC now owns 2,142 shares of the industrial products company’s stock worth $832,000 after buying an additional 36 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC lifted its position in Caterpillar by 8.0% in the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 846 shares of the industrial products company’s stock worth $328,000 after buying an additional 63 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

CAT opened at $471.68 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $485.34. The stock has a market capitalization of $220.97 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.41. The stock’s 50 day moving average price is $432.21 and its 200-day moving average price is $374.91.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period last year, the firm posted $5.99 earnings per share. Caterpillar’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the sale, the chairman directly owned 465,339 shares in the company, valued at $215,289,088.35. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,819 shares of company stock worth $16,885,492 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAT. Robert W. Baird lifted their price target on Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Bank of America lifted their price target on Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Barclays lifted their price target on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Finally, DA Davidson lifted their price target on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $466.53.

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.