Providence First Trust Co Buys New Shares in Caterpillar Inc. (NYSE:CAT)

Providence First Trust Co purchased a new position in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 390 shares of the industrial products company’s stock, valued at approximately $141,000.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of Caterpillar by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock valued at $3,987,206,000 after acquiring an additional 67,148 shares during the last quarter. Fisher Asset Management LLC increased its stake in Caterpillar by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock worth $3,294,505,000 after purchasing an additional 129,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Caterpillar by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after purchasing an additional 64,452 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Caterpillar by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock valued at $1,262,290,000 after purchasing an additional 8,088 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Caterpillar by 2.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,349,608 shares of the industrial products company’s stock worth $527,859,000 after purchasing an additional 30,609 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $343.90 on Friday. Caterpillar Inc. has a 12 month low of $307.05 and a 12 month high of $418.50. The firm has a market capitalization of $164.36 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.87 and a beta of 1.12. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The business has a fifty day simple moving average of $365.99 and a two-hundred day simple moving average of $372.71.

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

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Tuesday, January 21st. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Evercore ISI increased their price target on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Citigroup increased their target price on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Morgan Stanley reduced their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Finally, StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $383.80.

Caterpillar Company Profile

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.