Prosperity Consulting Group LLC Acquires 120 Shares of Caterpillar Inc. $CAT

Prosperity Consulting Group LLC lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,223 shares of the industrial products company’s stock after acquiring an additional 120 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Caterpillar were worth $1,251,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. bought a new position in shares of Caterpillar during the second quarter valued at approximately $28,000. Compass Financial Services Inc raised its holdings in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new position in Caterpillar in the second quarter worth $32,000. Harbor Asset Planning Inc. bought a new position in Caterpillar in the second quarter worth $34,000. Finally, Total Wealth Planning & Management Inc. bought a new position in Caterpillar in the second quarter worth $38,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Down 4.1%

CAT stock opened at $547.38 on Wednesday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.34. The stock has a market cap of $256.44 billion, a P/E ratio of 28.10, a PEG ratio of 3.33 and a beta of 1.46. The business’s 50-day moving average price is $483.50 and its 200-day moving average price is $413.75.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The firm had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $16.72 billion. During the same period in the previous year, the firm earned $5.17 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is presently 31.01%.

Insider Activity

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the sale, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,985 shares of company stock valued at $25,559,300 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CAT. Royal Bank Of Canada initiated coverage on Caterpillar in a report on Wednesday, October 22nd. They issued a “sector perform” rating and a $560.00 price objective for the company. Truist Financial reiterated a “buy” rating and set a $729.00 target price (up from $582.00) on shares of Caterpillar in a report on Thursday, October 30th. UBS Group lifted their target price on shares of Caterpillar from $506.00 to $581.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target for the company in a report on Tuesday, August 19th. Finally, Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price target for the company in a report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $584.50.

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.