Caterpillar Inc. (NYSE:CAT) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 71.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,063 shares of the industrial products company’s stock after acquiring an additional 1,696 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Caterpillar were worth $1,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Thompson Investment Management Inc. purchased a new stake in shares of Caterpillar during the 1st quarter worth approximately $27,000. Fairman Group LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth approximately $29,000. Partnership Wealth Management LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Caterpillar during the 4th quarter worth $27,000. Finally, Vima LLC purchased a new stake in Caterpillar during the 4th quarter worth $30,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAT has been the subject of a number of analyst reports. Citigroup initiated coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. TD Cowen upped their target price on shares of Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Oppenheimer restated a “market perform” rating on shares of Caterpillar in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $335.00.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now owns 20,023 shares in the company, valued at $6,807,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $356.90, for a total transaction of $7,797,194.30. Following the completion of the sale, the insider now directly owns 71,115 shares in the company, valued at $25,380,943.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total transaction of $512,720.00. Following the sale, the insider now owns 20,023 shares of the company’s stock, valued at $6,807,820. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,863 shares of company stock worth $8,837,714. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

CAT traded down $10.65 on Friday, hitting $320.87. 4,246,740 shares of the company’s stock were exchanged, compared to its average volume of 2,804,071. The firm has a market cap of $156.92 billion, a PE ratio of 14.49, a P/E/G ratio of 1.72 and a beta of 1.12. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The stock has a fifty day moving average of $334.71 and a two-hundred day moving average of $337.59. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Monday, July 22nd will be paid a dividend of $1.41 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $5.64 annualized dividend and a yield of 1.76%. Caterpillar’s dividend payout ratio is 25.46%.

Caterpillar announced that its Board of Directors has authorized a share buyback program on Wednesday, June 12th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.