Caterpillar Inc. (NYSE:CAT) Holdings Decreased by ProVise Management Group LLC

ProVise Management Group LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 54.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 565 shares of the industrial products company’s stock after selling 679 shares during the quarter. ProVise Management Group LLC’s holdings in Caterpillar were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CAT. Principal Financial Group Inc. grew its holdings in Caterpillar by 0.7% during the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock worth $285,382,000 after acquiring an additional 5,371 shares during the period. BIP Wealth LLC acquired a new position in Caterpillar in the third quarter worth approximately $287,000. PNC Financial Services Group Inc. grew its position in Caterpillar by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 413,719 shares of the industrial products company’s stock worth $161,814,000 after buying an additional 7,118 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Caterpillar in the third quarter worth approximately $7,288,000. Finally, Commerce Bank grew its position in Caterpillar by 8.8% in the third quarter. Commerce Bank now owns 142,698 shares of the industrial products company’s stock worth $55,812,000 after buying an additional 11,498 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the acquisition, the director now owns 3,053 shares in the company, valued at $1,116,085.21. This trade represents a 3.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now owns 6,275 shares in the company, valued at approximately $2,225,742.50. The trade was a 27.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Up 0.6 %

Caterpillar stock opened at $338.60 on Thursday. The company has a market capitalization of $161.83 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.87 and a beta of 1.15. The firm’s fifty day simple moving average is $359.41 and its 200-day simple moving average is $372.23. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. Caterpillar Inc. has a 1-year low of $307.05 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on CAT shares. Evercore ISI lifted their price target on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Bank of America decreased their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Morgan Stanley decreased their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $383.80.

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.