EverSource Wealth Advisors LLC Sells 131 Shares of Caterpillar Inc. (NYSE:CAT)

EverSource Wealth Advisors LLC decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 3.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,836 shares of the industrial products company’s stock after selling 131 shares during the period. EverSource Wealth Advisors LLC’s holdings in Caterpillar were worth $1,500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. purchased a new stake in Caterpillar during the 2nd quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new stake in Caterpillar during the 3rd quarter worth approximately $36,000. Fairscale Capital LLC purchased a new stake in Caterpillar during the 2nd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC grew its position in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $381.44 on Thursday. The firm has a 50-day simple moving average of $383.83 and a 200-day simple moving average of $355.03. The stock has a market capitalization of $184.16 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a 52 week low of $241.81 and a 52 week high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the prior year, the company posted $5.52 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Activity at Caterpillar

In related news, Director Gerald Johnson bought 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was bought 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 directly owns 2,842 shares in the company, valued at $962,272.78. This represents a 3.65 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Schaupp sold 968 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,774 shares of company stock valued at $8,233,034. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Robert W. Baird boosted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Citigroup decreased their target price on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Truist Financial boosted their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $365.33.

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.