Daviman Financial LLC Acquires New Position in Caterpillar Inc. $CAT

Daviman Financial LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) during the fourth quarter, Holdings Channel reports. The firm acquired 992 shares of the industrial products company’s stock, valued at approximately $568,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAT. Pacific Point Advisors LLC bought a new stake in Caterpillar in the 4th quarter valued at about $579,000. Brighton Jones LLC raised its stake in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after acquiring an additional 2,519 shares during the period. United Bank raised its stake in Caterpillar by 108.5% in the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company’s stock valued at $1,585,000 after acquiring an additional 2,125 shares during the period. Schnieders Capital Management LLC. raised its stake in Caterpillar by 3.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company’s stock valued at $3,551,000 after acquiring an additional 347 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Caterpillar by 6.5% in the 2nd quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company’s stock valued at $222,120,000 after acquiring an additional 34,846 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Caterpillar from $940.00 to $1,165.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Bank of America upped their price target on Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Truist Financial set a $1,043.00 price target on Caterpillar in a research report on Friday, May 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a research report on Friday, May 8th. Finally, Wolfe Research upped their price target on Caterpillar from $670.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $923.14.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar’s Power & Energy business is being highlighted as a major growth opportunity, with rising backlog, capacity expansion, and demand from AI data centers supporting the company’s longer-term targets. Article Title
• Positive Sentiment: Separate coverage is reinforcing Caterpillar as a “power infrastructure play,” helped by a strategic framework agreement tied to up to 2.1 gigawatts of incremental power-generation assets, which suggests additional demand beyond its core construction and mining equipment businesses. Article Title
• Positive Sentiment: Caterpillar was also mentioned among the stocks helping drive a strong Dow rally, indicating broader investor demand for the name during today’s market advance. Article Title
• Neutral Sentiment: Caterpillar was included in a hedge-fund stock screen, which may reflect institutional interest, but the item did not add a clear new catalyst by itself. Article Title

Caterpillar Stock Up 1.6%

Shares of NYSE CAT opened at $880.23 on Friday. Caterpillar Inc. has a 12 month low of $336.24 and a 12 month high of $931.35. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $405.42 billion, a price-to-earnings ratio of 43.81, a PEG ratio of 1.71 and a beta of 1.63. The business has a 50-day moving average of $791.73 and a 200-day moving average of $690.84.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. During the same quarter in the previous year, the firm earned $4.25 earnings per share. Caterpillar’s revenue was up 22.2% on a year-over-year basis. Sell-side analysts expect that Caterpillar Inc. will post 24.67 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. Caterpillar’s payout ratio is presently 30.06%.

Insider Activity at Caterpillar

In other news, insider Jason Kaiser sold 5,642 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the completion of the transaction, the insider owned 9,594 shares of the company’s stock, valued at approximately $8,471,789.82. The trade was a 37.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 24,222 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total value of $22,354,968.24. Following the transaction, the insider directly owned 86,029 shares of the company’s stock, valued at $79,397,884.68. The trade was a 21.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 100,551 shares of company stock valued at $91,170,351 in the last ninety days. Insiders own 0.33% of the company’s stock.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.