Romano Brothers AND Company Sells 234 Shares of Caterpillar Inc. (NYSE:CAT)

Romano Brothers AND Company cut its holdings in Caterpillar Inc. (NYSE:CAT) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,204 shares of the industrial products company’s stock after selling 234 shares during the quarter. Romano Brothers AND Company’s holdings in Caterpillar were worth $4,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Premier Asset Management LLC raised its stake in shares of Caterpillar by 3.1% during the fourth quarter. Premier Asset Management LLC now owns 1,418 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 43 shares during the last quarter. Enterprise Financial Services Corp raised its stake in shares of Caterpillar by 3.2% during the fourth quarter. Enterprise Financial Services Corp now owns 1,397 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 43 shares during the last quarter. Rise Advisors LLC raised its stake in shares of Caterpillar by 5.4% during the second quarter. Rise Advisors LLC now owns 832 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 43 shares during the last quarter. Private Ocean LLC raised its stake in shares of Caterpillar by 30.9% during the first quarter. Private Ocean LLC now owns 195 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 46 shares during the last quarter. Finally, Asset Management Group Inc. grew its holdings in Caterpillar by 0.4% during the fourth quarter. Asset Management Group Inc. now owns 10,734 shares of the industrial products company’s stock worth $2,572,000 after acquiring an additional 47 shares during the period. 69.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAT. Bank of America upped their price objective on Caterpillar from $283.00 to $323.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. TD Cowen upped their price objective on Caterpillar from $287.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. DA Davidson initiated coverage on Caterpillar in a report on Wednesday, June 21st. They set a “neutral” rating and a $263.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on Caterpillar from $275.00 to $315.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $267.00.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 2,923 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total transaction of $815,517.00. Following the completion of the sale, the insider now owns 16,182 shares in the company, valued at approximately $4,514,778. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Lange Bob De sold 20,000 shares of Caterpillar stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $275.00, for a total value of $5,500,000.00. Following the completion of the transaction, the insider now owns 53,671 shares in the company, valued at approximately $14,759,525. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 2,923 shares of Caterpillar stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $279.00, for a total value of $815,517.00. Following the completion of the transaction, the insider now owns 16,182 shares of the company’s stock, valued at approximately $4,514,778. The disclosure for this sale can be found here. Insiders sold a total of 54,918 shares of company stock worth $15,299,870 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Caterpillar Stock Down 0.7 %

NYSE CAT traded down $1.86 during mid-day trading on Tuesday, reaching $279.08. 1,013,027 shares of the company’s stock traded hands, compared to its average volume of 3,067,111. Caterpillar Inc. has a 1-year low of $160.60 and a 1-year high of $293.88. The company has a fifty day simple moving average of $273.63 and a 200-day simple moving average of $242.50. 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 company has a market cap of $142.36 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.17 and a beta of 1.13.

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

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.