Evernest Financial Advisors LLC Acquires 300 Shares of Caterpillar Inc. $CAT

Evernest Financial Advisors LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,221 shares of the industrial products company’s stock after acquiring an additional 300 shares during the period. Evernest Financial Advisors LLC’s holdings in Caterpillar were worth $1,639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Wealth Partners Inc. increased its position in shares of Caterpillar by 7.5% during the second quarter. Tower Wealth Partners Inc. now owns 1,203 shares of the industrial products company’s stock valued at $467,000 after acquiring an additional 84 shares in the last quarter. Omnia Family Wealth LLC increased its position in shares of Caterpillar by 11.0% during the second quarter. Omnia Family Wealth LLC now owns 850 shares of the industrial products company’s stock valued at $330,000 after acquiring an additional 84 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its position in shares of Caterpillar by 12.3% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 29,140 shares of the industrial products company’s stock valued at $11,313,000 after acquiring an additional 3,195 shares in the last quarter. Cushing Capital Partners LLC bought a new stake in shares of Caterpillar during the second quarter valued at approximately $231,000. Finally, Callahan Advisors LLC increased its position in shares of Caterpillar by 0.9% during the second quarter. Callahan Advisors LLC now owns 55,162 shares of the industrial products company’s stock valued at $21,415,000 after acquiring an additional 505 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 1.3%

Shares of Caterpillar stock opened at $534.40 on Thursday. The company’s fifty day simple moving average is $448.68 and its 200-day simple moving average is $387.73. The stock has a market capitalization of $250.35 billion, a PE ratio of 27.18, a P/E/G ratio of 3.23 and a beta of 1.46. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $538.45. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter in the prior year, the business earned $5.99 EPS. The company’s revenue was down .7% compared to the same quarter last year. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a dividend of $1.51 per share. The ex-dividend date is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s payout ratio is 30.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. DA Davidson raised their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Melius Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Finally, Barclays raised their target price on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $506.60.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares in the company, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,985 shares of company stock worth $25,559,300. 0.33% of the stock is owned by corporate insiders.

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.