Prosperity Financial Group Inc. Purchases 87 Shares of Caterpillar Inc. (NYSE:CAT)

Prosperity Financial Group Inc. increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,890 shares of the industrial products company’s stock after acquiring an additional 87 shares during the period. Prosperity Financial Group Inc.’s holdings in Caterpillar were worth $739,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CAT. Fisher Asset Management LLC increased its stake in shares of Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock valued at $3,501,554,000 after buying an additional 205,012 shares during the period. Legal & General Group Plc raised its stake in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after acquiring an additional 75,973 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Caterpillar by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after purchasing an additional 8,088 shares during the period. Dimensional Fund Advisors LP grew its stake 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 worth $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Caterpillar by 39,534.0% in the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $397.49 on Monday. Caterpillar Inc. has a twelve month low of $246.01 and a twelve month high of $418.50. The stock’s 50 day moving average is $386.81 and its 200-day moving average is $356.00. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $191.91 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.96 and a beta of 1.10.

Caterpillar (NYSE:CAT) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.52 EPS. Sell-side analysts forecast that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st were paid a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.42%. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Insiders Place Their Bets

In other Caterpillar news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the sale, the director now owns 4,976 shares in the company, valued at approximately $2,079,968. This trade represents a 20.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 20,774 shares of company stock valued at $8,233,034. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CAT shares. Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Truist Financial increased their target price on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI downgraded shares of Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. UBS Group increased their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $365.33.

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.