Prestige Wealth Management Group LLC Purchases 88 Shares of Caterpillar Inc. (NYSE:CAT)

Prestige Wealth Management Group LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,513 shares of the industrial products company’s stock after purchasing an additional 88 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Caterpillar were worth $912,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in Caterpillar during the fourth quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $27,000. Noble Wealth Management PBC acquired a new stake in Caterpillar in the 4th quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in Caterpillar during the fourth quarter worth about $34,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Trading Up 1.8 %

NYSE:CAT opened at $341.83 on Tuesday. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The firm’s fifty day moving average is $358.19 and its 200-day moving average is $372.36. The firm has a market cap of $163.37 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. Equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Insider Activity

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 45,182 shares in the company, valued at approximately $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $365.57 per share, with a total value of $36,557.00. Following the purchase, the director now directly owns 3,053 shares in the company, valued at approximately $1,116,085.21. The trade was a 3.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wedbush raised shares of Caterpillar to an “outperform” rating in a research report on Monday, February 3rd. Citigroup lifted their price objective on shares of Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Morgan Stanley lowered their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. DA Davidson raised their price objective on Caterpillar from $350.00 to $357.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $385.00 in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.