Providence Wealth Advisors LLC Has $4.11 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Providence Wealth Advisors LLC lowered its position in Caterpillar Inc. (NYSE:CAT) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,289 shares of the industrial products company’s stock after selling 416 shares during the quarter. Caterpillar accounts for about 3.2% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. Providence Wealth Advisors LLC’s holdings in Caterpillar were worth $4,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. BCO Wealth Management LLC purchased a new position in shares of Caterpillar in the fourth quarter valued at about $212,000. LM Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at approximately $467,000. AssuredPartners Investment Advisors LLC bought a new position in Caterpillar in the 4th quarter worth approximately $248,000. NEOS Investment Management LLC grew its holdings in Caterpillar by 11.7% during the 4th quarter. NEOS Investment Management LLC now owns 38,473 shares of the industrial products company’s stock valued at $13,956,000 after buying an additional 4,035 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Caterpillar by 27.3% in the fourth quarter. UniSuper Management Pty Ltd now owns 28,670 shares of the industrial products company’s stock worth $10,400,000 after buying an additional 6,145 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

NYSE:CAT opened at $340.91 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 52 week low of $307.05 and a 52 week high of $418.50. The stock’s 50-day moving average price is $356.95 and its 200-day moving average price is $372.24. The stock has a market capitalization of $162.93 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15.

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

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have weighed in on CAT. JPMorgan Chase & Co. cut their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI increased their price target on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. Finally, UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the company from $355.00 to $385.00 in a research note 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 given a buy rating to the stock. According to MarketBeat, Caterpillar 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.