Evernest Financial Advisors LLC Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Evernest Financial Advisors LLC lowered its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,729 shares of the industrial products company’s stock after selling 106 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Caterpillar were worth $1,459,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Legal & General Group Plc raised its stake in shares of Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the period. Dimensional Fund Advisors LP lifted its stake in Caterpillar by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after buying an additional 198,123 shares during the period. Capital Research Global Investors raised its holdings in shares of Caterpillar by 6.3% in the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock worth $740,225,000 after buying an additional 119,326 shares during the period. Finally, Capital Wealth Planning LLC lifted its stake in shares of Caterpillar by 6.4% during the 2nd quarter. Capital Wealth Planning LLC now owns 1,381,453 shares of the industrial products company’s stock worth $460,162,000 after acquiring an additional 83,571 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Caterpillar Trading Down 0.5 %

Caterpillar stock opened at $390.48 on Tuesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The stock has a market cap of $190.97 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The stock has a 50-day moving average of $364.94 and a two-hundred day moving average of $350.30. Caterpillar Inc. has a one year low of $223.76 and a one year high of $403.60.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period last year, the business earned $5.55 EPS. Caterpillar’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, research analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. Raymond James started coverage on Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. UBS Group boosted their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Bank of America raised their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Truist Financial boosted their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $355.50.

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.