Prentice Wealth Management LLC Increases Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Prentice Wealth Management LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 30.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 872 shares of the industrial products company’s stock after buying an additional 203 shares during the period. Prentice Wealth Management LLC’s holdings in Caterpillar were worth $190,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Caterpillar by 5.9% in the second quarter. BlackRock Inc. now owns 36,888,853 shares of the industrial products company’s stock worth $8,028,123,000 after purchasing an additional 2,064,453 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Caterpillar by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,492,830 shares of the industrial products company’s stock worth $3,360,452,000 after purchasing an additional 1,451,470 shares during the last quarter. Capital International Investors boosted its position in Caterpillar by 4.4% in the first quarter. Capital International Investors now owns 8,454,057 shares of the industrial products company’s stock worth $1,960,242,000 after purchasing an additional 360,098 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Caterpillar by 2.8% in the first quarter. Geode Capital Management LLC now owns 8,331,794 shares of the industrial products company’s stock valued at $1,926,476,000 after buying an additional 229,934 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Caterpillar by 3.6% in the second quarter. Fisher Asset Management LLC now owns 6,643,352 shares of the industrial products company’s stock valued at $1,445,793,000 after buying an additional 228,718 shares during the period. 67.82% of the stock is currently owned by institutional investors.

In related news, Director David Maclennan acquired 500 shares of Caterpillar stock in a transaction on Wednesday, August 4th. The shares were bought at an average cost of $206.20 per share, with a total value of $103,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

CAT has been the topic of several research reports. Zacks Investment Research lowered Caterpillar from a “buy” rating to a “hold” rating and set a $226.00 target price on the stock. in a research note on Wednesday, June 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $264.00 price objective on shares of Caterpillar in a research note on Thursday, May 27th. Credit Suisse Group decreased their price objective on Caterpillar from $268.00 to $256.00 and set an “outperform” rating on the stock in a research note on Monday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Caterpillar from $258.00 to $241.00 and set a “buy” rating on the stock in a research note on Monday, August 2nd. Finally, Morgan Stanley decreased their price objective on Caterpillar from $181.00 to $172.00 and set an “underweight” rating on the stock in a research note on Monday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $233.80.

Shares of CAT stock opened at $192.00 on Wednesday. Caterpillar Inc. has a 12-month low of $142.73 and a 12-month high of $246.69. The company has a current ratio of 1.56, a quick ratio of 1.10 and a debt-to-equity ratio of 1.55. The stock’s 50-day moving average price is $208.75 and its 200-day moving average price is $221.65. The stock has a market capitalization of $105.11 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, July 29th. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.22. Caterpillar had a return on equity of 30.80% and a net margin of 9.57%. The firm had revenue of $12.89 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue was up 28.9% compared to the same quarter last year. As a group, research analysts predict that Caterpillar Inc. will post 10.08 EPS for the current fiscal year.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

Further Reading: Forex

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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