Caterpillar Inc. $CAT Stock: Prairie Advisory LLC Grows Holdings

Key Points

• Prairie Advisory LLC more than doubled its Caterpillar holdings in the third quarter, increasing its position by 103.4% to 3,264 shares valued at approximately $2.65 million. Institutional investors collectively own 70.98% of CAT.
• Analyst sentiment remains positive overall, with Caterpillar carrying a “Moderate Buy” consensus rating and an average price target of $967.83, despite some hold downgrades and neutral ratings.
• Caterpillar reported strong quarterly results, earning $8.17 per share versus the $6.22 consensus estimate and generating $20.54 billion in revenue. The company also declared a quarterly dividend of $1.63 per share, while CEO Joseph E. Creed sold 32,401 shares.

Prairie Advisory LLC increased its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 103.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,264 shares of the industrial products company's stock after buying an additional 1,659 shares during the quarter. Prairie Advisory LLC's holdings in Caterpillar were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CAT. Stonebridge Financial Group LLC increased its position in Caterpillar by 0.7% in the second quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company's stock worth $1,741,000 after buying an additional 11 shares during the period. Inspirion Wealth Advisors LLC grew its position in shares of Caterpillar by 1.2% during the second quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company's stock worth $936,000 after acquiring an additional 11 shares during the last quarter. Bell Bank grew its position in shares of Caterpillar by 0.6% during the second quarter. Bell Bank now owns 1,865 shares of the industrial products company's stock worth $1,986,000 after acquiring an additional 11 shares during the last quarter. Cornerstone Advisory LLC increased its holdings in shares of Caterpillar by 0.7% in the 1st quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company's stock worth $1,288,000 after acquiring an additional 12 shares during the period. Finally, Sunbeam Capital Management LLC increased its holdings in shares of Caterpillar by 1.1% in the 1st quarter. Sunbeam Capital Management LLC now owns 1,164 shares of the industrial products company's stock worth $825,000 after acquiring an additional 13 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the sale, the chief executive officer owned 34,555 shares of the company's stock, valued at $27,954,303.90. The trade was a 48.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CAT shares. Weiss Ratings upgraded shares of Caterpillar from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. DA Davidson upped their target price on shares of Caterpillar from $845.00 to $882.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. UBS Group raised their price target on shares of Caterpillar from $900.00 to $925.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Erste Group Bank cut Caterpillar from a "buy" rating to a "hold" rating in a report on Monday, July 27th. Finally, Barclays boosted their price objective on Caterpillar from $800.00 to $900.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and a consensus target price of $967.83.

Caterpillar Price Performance

CAT stock traded down $5.03 during trading on Monday, hitting $725.73. The company had a trading volume of 1,199,506 shares, compared to its average volume of 2,817,932. The business has a 50 day moving average of $812.24 and a 200 day moving average of $856.69. The firm has a market capitalization of $333.60 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.26 and a beta of 1.58. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Caterpillar Inc. has a fifty-two week low of $510.21 and a fifty-two week high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The firm had revenue of $20.54 billion for the quarter, compared to analysts' expectations of $19.34 billion. During the same quarter last year, the company earned $4.72 EPS. Caterpillar's quarterly revenue was up 23.7% on a year-over-year basis. As a group, research analysts predict that Caterpillar Inc. will post 27.49 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, October 26th. Caterpillar's dividend payout ratio (DPR) is currently 28.06%.

Caterpillar Company Profile

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.

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