Evermay Wealth Management LLC Grows Position in Caterpillar Inc. $CAT

Evermay Wealth Management LLC raised its position in Caterpillar Inc. (NYSE:CAT) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,555 shares of the industrial products company’s stock after purchasing an additional 210 shares during the quarter. Evermay Wealth Management LLC’s holdings in Caterpillar were worth $992,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Compass Financial Services Inc grew its stake in shares of Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC acquired a new stake in shares of Caterpillar in the second quarter valued at about $32,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the first quarter valued at about $33,000. Harbor Asset Planning Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at about $34,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at about $38,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. DA Davidson raised their price objective on Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Jefferies Financial Group raised their price objective on Caterpillar from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Robert W. Baird raised their price objective on Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Citigroup raised their price objective on Caterpillar from $540.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Bank of America raised their price objective on Caterpillar from $517.00 to $594.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $510.60.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director owned 6,917 shares of the company’s stock, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $505.29, for a total value of $8,673,808.14. Following the completion of the sale, the chairman directly owned 448,173 shares in the company, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,985 shares of company stock valued at $25,559,300. Insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $527.41 on Monday. The firm has a market cap of $247.08 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.00 and a beta of 1.46. The stock has a 50 day moving average of $453.38 and a 200-day moving average of $391.52. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $544.99.

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

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio (DPR) is 30.72%.

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.