EverSource Wealth Advisors LLC Has $1.35 Million Stock Holdings in Caterpillar Inc. $CAT

EverSource Wealth Advisors LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 25.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,470 shares of the industrial products company’s stock after selling 1,174 shares during the period. EverSource Wealth Advisors LLC’s holdings in Caterpillar were worth $1,347,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Valeo Financial Advisors LLC raised its stake in Caterpillar by 36,842.1% during the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company’s stock worth $2,833,836,000 after acquiring an additional 7,279,991 shares in the last quarter. Norges Bank acquired a new position in Caterpillar in the second quarter valued at about $2,165,899,000. Nuveen LLC bought a new stake in Caterpillar during the 1st quarter worth approximately $391,788,000. Assenagon Asset Management S.A. boosted its stake in Caterpillar by 546.6% in the second quarter. Assenagon Asset Management S.A. now owns 843,093 shares of the industrial products company’s stock worth $327,297,000 after purchasing an additional 712,711 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its holdings in shares of Caterpillar by 36,586.2% during the second quarter. Laurel Wealth Advisors LLC now owns 433,631 shares of the industrial products company’s stock worth $168,340,000 after purchasing an additional 432,449 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

CAT opened at $598.89 on Friday. The company has a fifty day moving average price of $539.70 and a two-hundred day moving average price of $450.00. The firm has a market capitalization of $280.27 billion, a PE ratio of 30.74, a P/E/G ratio of 2.79 and a beta of 1.57. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $602.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same period last year, the company earned $5.17 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, October 20th were paid a $1.51 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. Caterpillar’s dividend payout ratio is 31.01%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Caterpillar from $506.00 to $581.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Argus upped their target price on shares of Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. DA Davidson raised their price target on shares of Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Finally, Wells Fargo & Company assumed coverage on Caterpillar in a research note on Thursday, November 13th. They issued an “overweight” rating and a $675.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average price target of $610.32.

Insiders Place Their Bets

In other news, Director David Maclennan acquired 300 shares of Caterpillar stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average price of $568.86 per share, with a total value of $170,658.00. Following the purchase, the director directly owned 7,947 shares of the company’s stock, valued at $4,520,730.42. The trade was a 3.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony D. Fassino sold 8,184 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the completion of the sale, the insider directly owned 41,512 shares of the company’s stock, valued at $23,669,312.16. The trade was a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 79,061 shares of company stock worth $41,949,366 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Caterpillar 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.