Evernest Financial Advisors LLC Sells 328 Shares of Caterpillar Inc. (NYSE:CAT)

Evernest Financial Advisors LLC lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,835 shares of the industrial products company’s stock after selling 328 shares during the period. Evernest Financial Advisors LLC’s holdings in Caterpillar were worth $1,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $26,000. Richardson Financial Services Inc. bought a new stake in Caterpillar in the 4th quarter worth about $27,000. Thompson Investment Management Inc. purchased a new position in Caterpillar in the 1st quarter worth about $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar in the 2nd quarter worth about $28,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Caterpillar during the 2nd quarter valued at about $28,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Stock Performance

NYSE CAT opened at $334.14 on Wednesday. The business has a 50-day moving average price of $340.09 and a 200-day moving average price of $343.78. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The firm has a market cap of $162.02 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The business had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the prior year, the firm earned $5.55 EPS. The business’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 21.87 EPS for the current fiscal year.

Caterpillar declared that its board has authorized a share buyback plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Caterpillar

In other news, Director Gerald Johnson acquired 100 shares of the firm’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 acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Caterpillar news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. The disclosure for this sale can be found here. Insiders sold 7,668 shares of company stock worth $2,665,760 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Barclays raised their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Bank of America reduced their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Raymond James assumed coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Citigroup began coverage on shares of Caterpillar in a research report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $336.31.

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.