Evanson Asset Management LLC Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

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Evanson Asset Management LLC lessened its position in Caterpillar Inc. (NYSE:CAT) by 9.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,849 shares of the industrial products company’s stock after selling 291 shares during the quarter. Evanson Asset Management LLC’s holdings in Caterpillar were worth $360,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CAT. Burns J W & Co. Inc. NY grew its stake in Caterpillar by 6.4% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 1,670 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 100 shares in the last quarter. Domani Wealth LLC grew its stake in Caterpillar by 53.6% during the 3rd quarter. Domani Wealth LLC now owns 2,394 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 835 shares in the last quarter. Larson Financial Group LLC grew its stake in Caterpillar by 36.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,297 shares of the industrial products company’s stock worth $164,000 after purchasing an additional 349 shares in the last quarter. Country Trust Bank grew its stake in Caterpillar by 1.5% during the 3rd quarter. Country Trust Bank now owns 179,470 shares of the industrial products company’s stock worth $22,669,000 after purchasing an additional 2,618 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Caterpillar by 10.7% during the 3rd quarter. Pacer Advisors Inc. now owns 60,563 shares of the industrial products company’s stock worth $7,650,000 after purchasing an additional 5,845 shares in the last quarter. Hedge funds and other institutional investors own 64.95% of the company’s stock.

In other news, General Counsel Suzette M. Long sold 5,019 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the completion of the sale, the general counsel now directly owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.

Shares of NYSE:CAT traded up $6.43 on Friday, hitting $129.12. 3,967,393 shares of the company’s stock were exchanged, compared to its average volume of 3,535,161. The firm’s 50-day moving average is $123.20 and its 200 day moving average is $129.21. The company has a market capitalization of $66.37 billion, a PE ratio of 11.51, a P/E/G ratio of 0.84 and a beta of 1.52. Caterpillar Inc. has a 1-year low of $111.75 and a 1-year high of $145.89. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.00 and a current ratio of 1.43.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.12 by ($0.29). The business had revenue of $14.43 billion for the quarter, compared to analyst estimates of $14.47 billion. Caterpillar had a return on equity of 43.35% and a net margin of 11.26%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.97 earnings per share. On average, analysts anticipate that Caterpillar Inc. will post 11.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s payout ratio is currently 36.72%.

Several research analysts recently commented on CAT shares. Atlantic Securities cut Caterpillar from a “neutral” rating to an “underweight” rating in a research note on Friday, June 21st. Buckingham Research cut Caterpillar from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $162.00 to $140.00 in a research note on Thursday, July 25th. Bank of America reissued a “buy” rating and set a $145.00 target price (down from $150.00) on shares of Caterpillar in a research note on Monday, September 9th. Cleveland Research reissued a “hold” rating on shares of Caterpillar in a research note on Monday, September 30th. Finally, Stephens started coverage on Caterpillar in a research note on Wednesday, August 14th. They set an “underweight” rating and a $100.00 target price for the company. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. Caterpillar presently has an average rating of “Hold” and a consensus price target of $137.66.

Caterpillar Profile

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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