Caterpillar Inc. (NYSE:CAT) Holdings Boosted by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,705 shares of the industrial products company’s stock after buying an additional 118 shares during the quarter. Caterpillar accounts for about 3.3% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 6th largest position. Providence Wealth Advisors LLC’s holdings in Caterpillar were worth $4,545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Martingale Asset Management L P lifted its holdings in Caterpillar by 99.6% during the third quarter. Martingale Asset Management L P now owns 8,563 shares of the industrial products company’s stock valued at $3,349,000 after purchasing an additional 4,273 shares in the last quarter. Isthmus Partners LLC purchased a new position in Caterpillar during the third quarter valued at approximately $433,000. Northwest & Ethical Investments L.P. lifted its holdings in Caterpillar by 65.7% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,678 shares of the industrial products company’s stock valued at $1,439,000 after purchasing an additional 1,458 shares in the last quarter. Vinva Investment Management Ltd lifted its holdings in Caterpillar by 33.9% during the third quarter. Vinva Investment Management Ltd now owns 20,142 shares of the industrial products company’s stock valued at $7,877,000 after purchasing an additional 5,105 shares in the last quarter. Finally, Hyperion Capital Advisors LP purchased a new position in Caterpillar during the third quarter valued at approximately $282,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of several analyst reports. Bank of America lifted their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Robert W. Baird lifted their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $321.00 to $365.00 in a research report on Wednesday, November 13th. UBS Group lifted their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Finally, Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $365.33.

Caterpillar Trading Down 1.0 %

Shares of CAT opened at $403.70 on Friday. Caterpillar Inc. has a twelve month low of $246.01 and a twelve month high of $418.50. The company has a market cap of $194.91 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.99 and a beta of 1.10. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The company’s fifty day simple moving average is $390.62 and its 200-day simple moving average is $357.40.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the prior year, the company posted $5.52 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. As a group, analysts expect that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Monday, October 21st. Caterpillar’s payout ratio is presently 26.15%.

Insider Transactions at Caterpillar

In other news, Director Daniel M. Dickinson sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the sale, the director now directly owns 4,976 shares in the company, valued at approximately $2,079,968. This trade represents a 20.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,589 shares of company stock worth $7,113,953. Insiders own 0.29% of the company’s stock.

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.