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

Providence Wealth Advisors LLC reduced its position in Caterpillar Inc. (NYSE:CAT) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,289 shares of the industrial products company’s stock after selling 416 shares during the period. Caterpillar makes up 3.2% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Providence Wealth Advisors LLC’s holdings in Caterpillar were worth $4,114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after acquiring an additional 10,212 shares during the last quarter. West Wealth Group LLC bought a new position in shares of Caterpillar in the fourth quarter valued at approximately $230,000. Cadinha & Co. LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at approximately $11,084,000. Atomi Financial Group Inc. increased its position in shares of Caterpillar by 3.9% during 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 last quarter. Finally, Copley Financial Group Inc. purchased a new position in Caterpillar in the third quarter valued at approximately $800,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CAT shares. Citigroup boosted their target price on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, January 31st. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $385.00 in a report on Monday, February 3rd. Evercore ISI lifted their target price on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Truist Financial reduced their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Bank of America lowered their price target on Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $383.80.

Insiders Place Their Bets

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’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 sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Caterpillar Stock Down 0.5 %

Shares of NYSE:CAT opened at $340.91 on Thursday. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The stock’s 50-day moving average is $356.95 and its 200 day moving average is $372.24. The company has a market cap of $162.93 billion, a PE ratio of 15.45, a P/E/G 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, 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%. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

About Caterpillar

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.