Caterpillar Inc. (NYSE:CAT) is Providence Wealth Advisors LLC’s 6th Largest Position

Providence Wealth Advisors LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 1.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,705 shares of the industrial products company’s stock after purchasing an additional 118 shares during the period. Caterpillar makes up about 3.3% of Providence Wealth Advisors LLC’s holdings, making the stock its 6th biggest holding. Providence Wealth Advisors LLC’s holdings in Caterpillar were worth $4,545,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CAT. Fisher Asset Management LLC boosted its position in Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares during the period. Legal & General Group Plc boosted its position in Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after buying an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Caterpillar by 1.8% during the 3rd 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 buying an additional 64,452 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Caterpillar by 0.3% during the 3rd 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 buying an additional 8,088 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after buying an additional 165,358 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 1.0 %

NYSE:CAT opened at $403.70 on Friday. The firm 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 debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. Caterpillar Inc. has a fifty-two week low of $246.01 and a fifty-two week high of $418.50. The firm has a 50-day simple moving average of $390.62 and a two-hundred day simple moving average of $357.40.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.52 earnings per share. Analysts predict that Caterpillar Inc. will post 21.67 earnings per share for the current fiscal 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 dividend of $1.41 per share. 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%.

Analyst Upgrades and Downgrades

CAT has been the subject of several analyst reports. Citigroup dropped their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Robert W. Baird raised their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Truist Financial raised their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley cut shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $365.33.

Insider Activity

In other news, insider Cheryl H. Johnson sold 2,664 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the sale, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. The trade was a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,589 shares of company stock valued at $7,113,953 in the last 90 days. 0.29% of the stock is currently owned by insiders.

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.