Evanson Asset Management LLC Trims Holdings in Caterpillar Inc. (NYSE:CAT)

Evanson Asset Management LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 9.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,849 shares of the industrial products company’s stock after selling 291 shares during the quarter. Evanson Asset Management LLC’s holdings in Caterpillar were worth $360,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Tortoise Investment Management LLC grew its holdings in Caterpillar by 3,600.0% during the second quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 180 shares during the period. Prestige Wealth Management Group LLC acquired a new stake in Caterpillar during the second quarter worth about $27,000. Kavar Capital Partners LLC acquired a new stake in Caterpillar during the second quarter worth about $46,000. Sound Income Strategies LLC grew its holdings in Caterpillar by 23.5% during the second quarter. Sound Income Strategies LLC now owns 378 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 72 shares during the period. Finally, Exane Derivatives acquired a new stake in Caterpillar during the second quarter worth about $54,000. Hedge funds and other institutional investors own 64.95% of the company’s stock.

Shares of NYSE:CAT traded up $6.43 during trading on Friday, reaching $129.12. The stock had a trading volume of 3,967,393 shares, compared to its average volume of 3,535,161. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43. The business has a fifty day moving average price of $123.20 and a 200-day moving average price of $129.21. The stock has a market cap of $66.37 billion, a PE ratio of 11.51, a PEG ratio of 0.84 and a beta of 1.52. Caterpillar Inc. has a 1-year low of $111.75 and a 1-year high of $145.89.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.12 by ($0.29). The firm had revenue of $14.43 billion during the quarter, compared to analyst estimates of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 earnings per share. Sell-side analysts expect that Caterpillar Inc. will post 11.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s dividend payout ratio is presently 36.72%.

CAT has been the topic of several analyst reports. Buckingham Research lowered Caterpillar from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $162.00 to $140.00 in a report on Thursday, July 25th. ValuEngine raised Caterpillar from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Bank of America reissued a “buy” rating and issued a $145.00 price objective (down from $150.00) on shares of Caterpillar in a report on Monday, September 9th. Robert W. Baird dropped their price objective on Caterpillar from $161.00 to $155.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Goldman Sachs Group lowered Caterpillar from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $156.00 to $130.00 in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. Caterpillar presently has an average rating of “Hold” and an average target price of $137.66.

In other news, General Counsel Suzette M. Long sold 5,019 shares of Caterpillar stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the sale, the general counsel now directly owns 12,569 shares of the company’s stock, valued at $1,587,967.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Caterpillar Company Profile

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.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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