Providence Wealth Advisors LLC Decreases Stake in Caterpillar Inc. (CAT)

Providence Wealth Advisors LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,243 shares of the industrial products company’s stock after selling 160 shares during the quarter. Caterpillar comprises about 2.8% of Providence Wealth Advisors LLC’s holdings, making the stock its 7th largest position. Providence Wealth Advisors LLC’s holdings in Caterpillar were worth $2,543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Hawaiian Bank bought a new position in shares of Caterpillar during the third quarter valued at approximately $1,205,000. First American Bank bought a new position in shares of Caterpillar during the third quarter valued at approximately $233,000. Global Retirement Partners LLC grew its holdings in shares of Caterpillar by 16.9% during the third quarter. Global Retirement Partners LLC now owns 2,493 shares of the industrial products company’s stock valued at $380,000 after purchasing an additional 360 shares during the last quarter. BB&T Corp grew its holdings in shares of Caterpillar by 10.1% during the third quarter. BB&T Corp now owns 54,286 shares of the industrial products company’s stock valued at $8,278,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Highland Capital Management LLC grew its holdings in shares of Caterpillar by 24.8% during the third quarter. Highland Capital Management LLC now owns 10,672 shares of the industrial products company’s stock valued at $1,627,000 after purchasing an additional 2,122 shares during the last quarter. Institutional investors own 68.90% of the company’s stock.

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CAT has been the subject of several recent research reports. Standpoint Research raised Caterpillar from a “sell” rating to an “accumulate” rating and set a $117.85 target price for the company in a report on Wednesday, December 26th. JPMorgan Chase & Co. set a $188.00 target price on Caterpillar and gave the company a “buy” rating in a report on Tuesday, October 23rd. UBS Group set a $160.00 target price on Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 24th. Morgan Stanley set a $169.00 target price on Caterpillar and gave the company a “buy” rating in a report on Wednesday, October 24th. Finally, Citigroup decreased their price objective on Caterpillar from $175.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $151.50.

CAT opened at $132.62 on Friday. The company has a market capitalization of $78.54 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.60 and a beta of 1.46. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.37 and a quick ratio of 0.96. Caterpillar Inc. has a 1-year low of $112.06 and a 1-year high of $164.60.

Caterpillar (NYSE:CAT) last released its earnings results on Monday, January 28th. The industrial products company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.43). The firm had revenue of $14.34 billion during the quarter, compared to analyst estimates of $14.36 billion. Caterpillar had a return on equity of 45.31% and a net margin of 11.23%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $2.16 earnings per share. On average, analysts predict that Caterpillar Inc. will post 12.24 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 20th. Shareholders of record on Tuesday, January 22nd will be given a $0.86 dividend. The ex-dividend date of this dividend is Friday, January 18th. This represents a $3.44 dividend on an annualized basis and a yield of 2.59%. Caterpillar’s dividend payout ratio (DPR) is 30.66%.

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About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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