Caterpillar Inc. (NYSE:CAT) Stock Holdings Lifted by Provence Wealth Management Group

Provence Wealth Management Group increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,276 shares of the industrial products company’s stock after acquiring an additional 339 shares during the quarter. Provence Wealth Management Group’s holdings in Caterpillar were worth $673,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Gilfoyle & Co LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth about $30,000. Fortitude Family Office LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $39,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Caterpillar during the third quarter worth approximately $41,000. DiNuzzo Private Wealth Inc. bought a new position in Caterpillar in the 4th quarter worth approximately $41,000. Finally, Rational Advisors LLC acquired a new stake in Caterpillar in the 3rd quarter valued at approximately $42,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 0.4 %

Shares of CAT stock traded up $1.31 during trading hours on Friday, reaching $336.75. 1,977,087 shares of the stock traded hands, compared to its average volume of 2,750,444. The business has a fifty day moving average price of $351.89 and a 200 day moving average price of $303.33. Caterpillar Inc. has a 1-year low of $205.60 and a 1-year high of $382.01. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $164.69 billion, a PE ratio of 15.20, a PEG ratio of 1.44 and a beta of 1.19.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. On average, equities research analysts forecast that Caterpillar Inc. will post 21.79 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be issued a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.54%. Caterpillar’s dividend payout ratio is 23.48%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Lange Bob De sold 21,194 shares of Caterpillar stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David Maclennan purchased 350 shares of Caterpillar stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, with a total value of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The disclosure for this purchase can be found here. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CAT has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Citigroup upped their price target on shares of Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Morgan Stanley assumed coverage on shares of Caterpillar in a research note on Monday, January 8th. They set an “equal weight” rating and a $270.00 price objective on the stock. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and upped their target price for the stock from $293.00 to $350.00 in a research report on Friday, April 26th. Finally, TD Cowen lifted their price target on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $323.35.

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.