Provenance Wealth Advisors LLC Purchases 1,285 Shares of Caterpillar Inc. $CAT

Provenance Wealth Advisors LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT) by 40.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,488 shares of the industrial products company’s stock after purchasing an additional 1,285 shares during the period. Provenance Wealth Advisors LLC’s holdings in Caterpillar were worth $3,639,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CAT. BlackRock Inc. purchased a new position in shares of Caterpillar during the second quarter valued at approximately $40,457,153,000. Bank of America Corp DE acquired a new stake in Caterpillar during the second quarter worth approximately $5,818,150,000. Bank of New York Mellon Corp purchased a new stake in Caterpillar in the 2nd quarter worth approximately $3,192,710,000. Legal & General Group Plc purchased a new stake in Caterpillar in the 2nd quarter worth approximately $2,783,451,000. Finally, Ascentis Wealth Management LLC raised its holdings in Caterpillar by 110,539.0% in the 2nd quarter. Ascentis Wealth Management LLC now owns 2,518,143 shares of the industrial products company’s stock valued at $2,711,772,000 after acquiring an additional 2,515,867 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Key Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar is expanding engine and turbine production to meet data-center demand, a growth opportunity for its power-generation business. The company also reported a record $78 billion backlog and strong quarterly growth, although margin pressure remains a concern. Article: Caterpillar expands production of engines and turbines to meet data center demand
• Positive Sentiment: Director James Fish bought 1,000 shares for about $620,000, increasing his holdings by roughly 27%. The insider purchase may signal confidence in Caterpillar’s prospects. Article: Caterpillar director share purchase
• Positive Sentiment: Freedom Capital Markets maintained a Buy rating after lowering its price target to $800 from $980, still indicating substantial potential upside from the price cited in the report. Article: Freedom Capital Markets price target
• Neutral Sentiment: Caterpillar completed its acquisition of long-time dealer John Fabick Tractor Company, adding its Missouri, Illinois, Wisconsin and Michigan Upper Peninsula operations to the company’s dealer network. The deal may strengthen regional customer support, though its near-term financial impact is unclear. Article: Caterpillar acquires Fabick Cat dealership
• Negative Sentiment: DA Davidson cut its price target to $685 from $882 and kept a Neutral rating, citing valuation concerns despite improving demand. The debate over whether Caterpillar’s premium valuation and margin pressures are justified could weigh on sentiment. Article: Caterpillar target cut and margin concerns

Analyst Ratings Changes

A number of research analysts have weighed in on CAT shares. Barclays increased their price target on Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $749.00 price objective on shares of Caterpillar in a research report on Wednesday, October 14th. Erste Group Bank lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Oppenheimer reiterated an “outperform” rating and set a $1,009.00 target price on shares of Caterpillar in a research report on Thursday, October 29th. Finally, Wall Street Zen lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Saturday. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus price target of $898.25.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CEO Joseph Creed sold 32,401 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the sale, the chief executive officer directly owned 34,555 shares in the company, valued at $27,954,303.90. This represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James C. Fish, Jr. purchased 1,000 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were purchased at an average price of $620.39 per share, with a total value of $620,390.00. Following the completion of the purchase, the director directly owned 4,714 shares of the company’s stock, valued at $2,924,518.46. The trade was a 26.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.33% of the company’s stock.

Caterpillar Stock Performance

Shares of CAT stock opened at $623.53 on Wednesday. Caterpillar Inc. has a one year low of $537.08 and a one year high of $1,073.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42. The company has a 50 day moving average price of $775.16 and a 200 day moving average price of $807.33. The firm has a market capitalization of $286.62 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share for the quarter, beating analysts’ consensus estimates of $7.06 by $0.14. The company had revenue of $20.68 billion for the quarter, compared to analyst estimates of $20.76 billion. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. Caterpillar’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $4.95 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 27.62 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar’s dividend payout ratio (DPR) is 25.58%.

About Caterpillar

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.