Evercore Wealth Management LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 30.5% during the 3rd quarter, Holdings Channel reports. The firm owned 10,139 shares of the industrial products company’s stock after acquiring an additional 2,369 shares during the quarter. Evercore Wealth Management LLC’s holdings in Caterpillar were worth $1,546,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Acropolis Investment Management LLC bought a new position in Caterpillar during the 3rd quarter valued at about $100,000. Sound Income Strategies LLC grew its holdings in Caterpillar by 181.8% during the 3rd quarter. Sound Income Strategies LLC now owns 665 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 429 shares during the last quarter. St. Johns Investment Management Company LLC bought a new position in Caterpillar during the 3rd quarter valued at about $106,000. Providence Capital Advisors LLC bought a new position in Caterpillar during the 3rd quarter valued at about $118,000. Finally, Psagot Investment House Ltd. bought a new position in Caterpillar during the 3rd quarter valued at about $136,000. Institutional investors own 66.86% of the company’s stock.
In other news, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the sale, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lange Bob De purchased 1,080 shares of the stock in a transaction dated Friday, October 26th. The stock was acquired at an average cost of $115.58 per share, with a total value of $124,826.40. Following the transaction, the insider now directly owns 11,310 shares in the company, valued at approximately $1,307,209.80. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.
Shares of CAT opened at $123.55 on Friday. Caterpillar Inc. has a fifty-two week low of $112.06 and a fifty-two week high of $173.24. The company has a market capitalization of $75.75 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 0.53 and a beta of 1.61. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.48 and a quick ratio of 1.02.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.03. Caterpillar had a net margin of 7.13% and a return on equity of 44.13%. The firm had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $13.28 billion. During the same quarter in the prior year, the company earned $1.95 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. As a group, equities analysts expect that Caterpillar Inc. will post 11.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, October 22nd were given a $0.86 dividend. The ex-dividend date was Friday, October 19th. This represents a $3.44 annualized dividend and a dividend yield of 2.78%. Caterpillar’s payout ratio is presently 50.00%.
A number of brokerages have commented on CAT. Citigroup upgraded shares of Caterpillar to an “outperform” rating in a research note on Friday, September 21st. OTR Global downgraded shares of Caterpillar to a “positive” rating in a research note on Friday, September 21st. Macquarie set a $130.00 target price on shares of Caterpillar and gave the stock a “sell” rating in a research note on Tuesday, September 25th. Robert W. Baird upgraded shares of Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 target price on the stock in a research note on Thursday, September 20th. Finally, Zacks Investment Research downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $158.90.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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