Caterpillar Inc. $CAT Shares Acquired by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC raised its stake in Caterpillar Inc. (NYSE:CAT) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,363 shares of the industrial products company’s stock after purchasing an additional 185 shares during the quarter. Caterpillar accounts for about 3.3% of Providence Wealth Advisors LLC’s portfolio, making the stock its 7th biggest position. Providence Wealth Advisors LLC’s holdings in Caterpillar were worth $4,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CAT. Mid American Wealth Advisory Group Inc. bought a new position in Caterpillar during the 2nd quarter valued at $28,000. Family Legacy Financial Solutions LLC bought a new position in shares of Caterpillar during the second quarter valued at about $32,000. Harbor Asset Planning Inc. purchased a new position in Caterpillar during the second quarter worth about $34,000. Compass Financial Services Inc grew its position in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Finally, Maseco LLP purchased a new stake in Caterpillar in the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

CAT opened at $550.74 on Friday. The company has a market capitalization of $257.74 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 3.33 and a beta of 1.51. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $518.69 and a 200-day moving average price of $435.87. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.17 earnings per share. Equities analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, October 20th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, October 20th. Caterpillar’s dividend payout ratio is presently 31.01%.

Insider Activity

In related news, insider Jason Kaiser sold 10,707 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the transaction, the insider directly owned 8,649 shares in the company, valued at $4,874,576.40. This trade represents a 55.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Fassino sold 8,184 shares of Caterpillar stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the transaction, the insider directly owned 41,512 shares in the company, valued at $23,669,312.16. This trade represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 86,229 shares of company stock valued at $43,323,118. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada began coverage on Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 target price for the company. Jefferies Financial Group upped their price objective on Caterpillar from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wells Fargo & Company initiated coverage on Caterpillar in a research report on Thursday, November 13th. They set an “overweight” rating and a $675.00 target price for the company. Argus boosted their price target on shares of Caterpillar from $460.00 to $625.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Caterpillar in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $610.32.

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.