Richelieu Gestion SA Sells 1,078 Shares of Caterpillar Inc. (NYSE:CAT)

Richelieu Gestion SA trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,668 shares of the industrial products company’s stock after selling 1,078 shares during the quarter. Caterpillar makes up about 2.4% of Richelieu Gestion SA’s investment portfolio, making the stock its 18th largest holding. Richelieu Gestion SA’s holdings in Caterpillar were worth $2,871,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CAT. BCK Partners Inc. purchased a new position in Caterpillar during the first quarter valued at approximately $2,580,000. Sei Investments Co. lifted its holdings in Caterpillar by 17.3% during the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after purchasing an additional 9,695 shares in the last quarter. Dakota Wealth Management purchased a new position in Caterpillar during the first quarter valued at approximately $405,000. Mather Group LLC. lifted its holdings in shares of Caterpillar by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock worth $577,000 after buying an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Caterpillar by 4.4% in the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock worth $11,075,000 after buying an additional 2,076 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Insider Buying and Selling

In related news, insider Lange Bob De sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total value of $5,500,000.00. Following the completion of the sale, the insider now directly owns 53,671 shares of the company’s stock, valued at $14,759,525. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Lange Bob De sold 20,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $275.00, for a total transaction of $5,500,000.00. Following the completion of the sale, the insider now directly owns 53,671 shares of the company’s stock, valued at $14,759,525. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph E. Creed sold 7,286 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $285.25, for a total transaction of $2,078,331.50. The disclosure for this sale can be found here. Insiders sold a total of 54,918 shares of company stock valued at $15,299,870 over the last three months. 0.33% of the stock is owned by company insiders.

Caterpillar Trading Up 0.8 %

Shares of NYSE CAT traded up $2.34 during mid-day trading on Monday, reaching $281.49. The company had a trading volume of 651,945 shares, compared to its average volume of 3,074,534. The business’s 50-day moving average is $272.99 and its 200-day moving average is $242.30. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. The stock has a market cap of $143.59 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.13. Caterpillar Inc. has a 52 week low of $160.60 and a 52 week high of $293.88.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $5.55 earnings per share for the quarter, topping analysts’ consensus estimates of $4.57 by $0.98. Caterpillar had a net margin of 12.91% and a return on equity of 55.93%. The company had revenue of $17.30 billion during the quarter, compared to analyst estimates of $16.46 billion. During the same period in the prior year, the firm earned $3.18 earnings per share. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities analysts expect that Caterpillar Inc. will post 19.82 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $275.00 to $315.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Stifel Nicolaus boosted their target price on shares of Caterpillar from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. StockNews.com downgraded shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Thursday. TD Cowen upped their price target on shares of Caterpillar from $287.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Caterpillar from $274.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $267.00.

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.