Prestige Wealth Management Group LLC Buys 88 Shares of Caterpillar Inc. (NYSE:CAT)

Prestige Wealth Management Group LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,513 shares of the industrial products company’s stock after purchasing an additional 88 shares during the period. Prestige Wealth Management Group LLC’s holdings in Caterpillar were worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. FSM Wealth Advisors LLC boosted its holdings in shares of Caterpillar by 3.8% in the 4th 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 shares of Caterpillar by 0.6% during the fourth quarter. Allen Capital Group LLC now owns 4,247 shares of the industrial products company’s stock valued at $1,541,000 after buying an additional 26 shares during the period. Wagner Wealth Management LLC grew its stake in shares of Caterpillar by 4.0% during the fourth quarter. Wagner Wealth Management LLC now owns 668 shares of the industrial products company’s stock valued at $242,000 after buying an additional 26 shares during the last quarter. Channel Wealth LLC raised 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 during the period. Finally, Total Clarity Wealth Management Inc. boosted its holdings in Caterpillar by 0.6% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,373 shares of the industrial products company’s stock valued at $1,586,000 after acquiring an additional 27 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CAT. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wedbush raised Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Citigroup lifted their target price on Caterpillar from $420.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Morgan Stanley dropped their price target on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $383.80.

Caterpillar Stock Performance

CAT opened at $341.83 on Tuesday. The firm has a 50 day moving average of $358.19 and a two-hundred day moving average of $372.36. The firm has a market capitalization of $163.37 billion, a PE ratio of 15.49, a P/E/G ratio of 1.87 and a beta of 1.15. 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 12-month low of $307.05 and a 12-month high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results 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 return on equity of 58.18% and a net margin of 16.65%. On average, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. The trade was a 18.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson acquired 100 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average cost of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the acquisition, the director now owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This trade represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.

Caterpillar 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.