Caterpillar Inc. (NYSE:CAT) Shares Sold by Everhart Financial Group Inc.

Everhart Financial Group Inc. lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,976 shares of the industrial products company’s stock after selling 36 shares during the period. Everhart Financial Group Inc.’s holdings in Caterpillar were worth $1,311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Flagship Wealth Advisors LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Caterpillar in the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new position in shares of Caterpillar in the fourth quarter valued at approximately $31,000. Finally, Investment Management Corp VA ADV acquired a new position in shares of Caterpillar in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, Director David Maclennan acquired 375 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares of the company’s stock, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on CAT. Truist Financial reissued a “buy” rating and issued a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Robert W. Baird raised Caterpillar from a “neutral” rating to an “outperform” rating and increased their price target for the company from $309.00 to $395.00 in a research report on Tuesday, May 13th. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their target price on shares of Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, DA Davidson lifted their price target on shares of Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $372.92.

Caterpillar Stock Down 0.6%

Shares of NYSE:CAT opened at $360.85 on Friday. The firm has a 50 day simple moving average of $325.40 and a 200-day simple moving average of $348.98. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month 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 company has a market capitalization of $169.98 billion, a PE ratio of 16.35, a P/E/G ratio of 1.87 and a beta of 1.37.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The company had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Caterpillar’s revenue was down 9.8% on a year-over-year basis. During the same period last year, the firm earned $5.60 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.67%. Caterpillar’s dividend payout ratio is 27.49%.

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.