ProVise Management Group LLC Has $205,000 Position in Caterpillar Inc. (NYSE:CAT)

ProVise Management Group LLC reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 54.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 565 shares of the industrial products company’s stock after selling 679 shares during the period. ProVise Management Group LLC’s holdings in Caterpillar were worth $205,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CAT. FSM Wealth Advisors LLC boosted its position in Caterpillar by 3.8% during the fourth quarter. FSM Wealth Advisors LLC now owns 688 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 25 shares during the period. Allen Capital Group LLC boosted its position in Caterpillar by 0.6% during the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock worth $1,541,000 after purchasing an additional 26 shares during the period. Wagner Wealth Management LLC lifted its holdings in shares of Caterpillar by 4.0% in the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock worth $242,000 after buying an additional 26 shares in the last quarter. Channel Wealth LLC lifted its holdings in shares of Caterpillar by 1.9% in the fourth quarter. Channel Wealth LLC now owns 1,468 shares of the industrial products company’s stock worth $533,000 after buying an additional 27 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. lifted its holdings in shares of Caterpillar by 0.6% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock worth $1,586,000 after buying an additional 27 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 0.6 %

Shares of CAT opened at $338.60 on Thursday. The stock has a market capitalization of $161.83 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The business’s 50 day simple moving average is $359.41 and its 200-day simple moving average is $372.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

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 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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,053 shares in the company, valued at $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the sale, the insider now directly 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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target 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. Truist Financial lowered their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Bank of America lowered their target price on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. StockNews.com downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Evercore ISI raised their target price on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.