EverSource Wealth Advisors LLC Grows Stake in Caterpillar Inc. (NYSE:CAT)

EverSource Wealth Advisors LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,294 shares of the industrial products company’s stock after buying an additional 458 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Caterpillar were worth $1,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar in the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new position in Caterpillar during the 4th quarter worth $34,000. Whipplewood Advisors LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth $36,000. Finally, Kimelman & Baird LLC lifted its stake in shares of Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 30 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $338.50 on Thursday. The stock has a market capitalization of $161.78 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average price of $361.80 and a two-hundred day moving average price of $372.69.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the completion of the sale, the insider now directly owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. DA Davidson upped their price target on shares of Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Bank of America decreased their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and an average target price of $383.80.

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.