Sequoia Financial Advisors LLC Increases Stock Position in Caterpillar Inc. (NYSE:CAT)

Sequoia Financial Advisors LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 10.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 75,446 shares of the industrial products company’s stock after acquiring an additional 7,406 shares during the period. Sequoia Financial Advisors LLC’s holdings in Caterpillar were worth $29,509,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CAT. Thompson Investment Management Inc. acquired a new position in Caterpillar during the first quarter worth $27,000. Bbjs Financial Advisors LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $28,000. Financial Connections Group Inc. acquired a new position in Caterpillar in the 2nd quarter valued at about $28,000. Fairman Group LLC purchased a new stake in Caterpillar during the first quarter worth about $29,000. Finally, Fairscale Capital LLC purchased a new position in shares of Caterpillar in the second quarter valued at approximately $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

CAT stock traded down $2.29 during trading on Tuesday, hitting $388.19. The company had a trading volume of 664,982 shares, compared to its average volume of 2,632,660. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $403.60. The firm has a 50-day moving average price of $364.94 and a 200-day moving average price of $350.30. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The firm has a market cap of $189.85 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.55 EPS. On average, analysts expect that Caterpillar Inc. will post 21.91 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Insider Buying and Selling

In related news, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares in the company, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAT. Raymond James started coverage on shares of Caterpillar in a report on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup upped their price target on Caterpillar from $380.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley cut Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their target price on shares of Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $355.50.

About Caterpillar

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.