Prentice Wealth Management LLC Acquires 114 Shares of Caterpillar Inc. (NYSE:CAT)

Prentice Wealth Management LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,205 shares of the industrial products company’s stock after purchasing an additional 114 shares during the quarter. Prentice Wealth Management LLC’s holdings in Caterpillar were worth $437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PMG Wealth Management Inc. acquired a new stake in Caterpillar during the fourth quarter worth approximately $294,000. Peregrine Asset Advisers Inc. lifted its position in shares of Caterpillar by 382.3% during the 4th quarter. Peregrine Asset Advisers Inc. now owns 8,131 shares of the industrial products company’s stock valued at $2,950,000 after acquiring an additional 6,445 shares during the period. Drum Hill Capital LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth $274,000. Dahring Cusmano LLC bought a new position in shares of Caterpillar in the fourth quarter worth $266,000. Finally, Bank of Stockton lifted its position in Caterpillar by 22.5% during the fourth quarter. Bank of Stockton now owns 1,963 shares of the industrial products company’s stock worth $712,000 after purchasing an additional 361 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on CAT shares. Citigroup raised their target price on shares of Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a report 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 on the stock in a research note on Friday, January 31st. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial dropped their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $383.80.

Caterpillar Stock Down 2.7 %

NYSE:CAT opened at $339.84 on Friday. 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 Inc. has a one year low of $307.05 and a one year high of $418.50. The firm’s 50 day simple moving average is $369.54 and its 200 day simple moving average is $372.24. The company has a market cap of $162.42 billion, a PE ratio of 15.40, a P/E/G ratio of 1.89 and a beta of 1.12.

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

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were given a dividend of $1.41 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.66%. Caterpillar’s dividend payout ratio (DPR) is 25.56%.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction 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 completion of the transaction, the insider now owns 6,275 shares of the company’s stock, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony D. Fassino sold 6,279 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $408.59, for a total transaction of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares in the company, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock valued at $7,226,584 over the last ninety days. 0.29% of the stock is owned by company insiders.

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.