C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Sells 186 Shares of Caterpillar Inc. (NYSE:CAT)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,718 shares of the industrial products company’s stock after selling 186 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Caterpillar were worth $1,454,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Caterpillar by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock valued at $14,296,641,000 after buying an additional 129,216 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Caterpillar by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock worth $2,406,471,000 after acquiring an additional 173,108 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Caterpillar by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after acquiring an additional 75,973 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Caterpillar by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Caterpillar by 10.4% during the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after purchasing an additional 198,123 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now directly owns 2,842 shares in the company, valued at $962,272.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,668 shares of company stock worth $2,665,760. 0.33% of the stock is currently owned by insiders.

Caterpillar Stock Performance

NYSE:CAT opened at $387.96 on Wednesday. The stock has a market cap of $189.73 billion, a P/E ratio of 17.51, a PEG ratio of 1.73 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The business’s 50-day moving average price is $352.59 and its two-hundred day moving average price is $348.22. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $401.17.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter last year, the business posted $5.55 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar announced that its Board of Directors has approved a share repurchase program on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial reissued a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Raymond James started coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating for the company. UBS Group upped their price target on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. StockNews.com lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Citigroup started coverage on shares of Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus target price of $339.94.

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.