Prentice Wealth Management LLC Buys 114 Shares of Caterpillar Inc. (NYSE:CAT)

by · The Markets Daily

Prentice Wealth Management LLC increased its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 10.4% during the 4th quarter, Holdings Channel reports. The fund owned 1,205 shares of the industrial products company’s stock after acquiring an additional 114 shares during the period. Prentice Wealth Management LLC’s holdings in Caterpillar were worth $437,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB increased its position in Caterpillar by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after buying an additional 10,212 shares in the last quarter. West Wealth Group LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $230,000. Citizens Financial Group Inc. RI raised its position in shares of Caterpillar by 43.0% during the third quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after purchasing an additional 4,181 shares during the period. Cadinha & Co. LLC bought a new position in shares of Caterpillar in the 4th quarter worth $11,084,000. Finally, Atomi Financial Group Inc. grew its position in Caterpillar by 3.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock valued at $8,414,000 after purchasing an additional 871 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was purchased at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the acquisition, the director now directly owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. The trade was a 3.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 6,279 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now owns 33,565 shares in the company, valued at approximately $13,714,323.35. The trade was a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,704 shares of company stock worth $7,226,584 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

CAT has been the topic of several research reports. DA Davidson upped their price objective on shares of Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley cut their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Jefferies Financial Group increased their price objective on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $383.80.

Check Out Our Latest Research Report on CAT

Caterpillar Price Performance

Shares of NYSE:CAT opened at $339.84 on Friday. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. The company’s 50-day moving average is $369.54 and its 200 day moving average is $372.24. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company has a market capitalization of $162.42 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12.

Caterpillar (NYSE:CAT – Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Tuesday, January 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.66%. Caterpillar’s dividend payout ratio is presently 25.56%.

About Caterpillar

(Free Report)

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.

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