Caterpillar Inc. $CAT Stock Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,140 shares of the industrial products company’s stock after selling 1,006 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Caterpillar were worth $15,518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Caterpillar in the second quarter valued at about $40,457,153,000. State Street Corp boosted its holdings in Caterpillar by 4.0% in the 2nd quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock worth $37,120,529,000 after acquiring an additional 1,396,356 shares during the period. Bank of America Corp DE purchased a new position in Caterpillar in the 2nd quarter worth approximately $5,818,150,000. Diamant Asset Management Inc. raised its stake in shares of Caterpillar by 68,427.2% during the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock valued at $2,224,992,000 after purchasing an additional 3,136,020 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Caterpillar by 2.3% during the fourth quarter. Invesco Ltd. now owns 3,031,666 shares of the industrial products company’s stock worth $1,736,750,000 after purchasing an additional 68,770 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Joseph E. Creed sold 32,401 shares of Caterpillar 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 approximately $27,954,303.90. The trade was a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Up 1.0%

Shares of Caterpillar stock traded up $8.55 during trading on Monday, reaching $853.97. The company had a trading volume of 926,417 shares, compared to its average volume of 2,815,094. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. Caterpillar Inc. has a fifty-two week low of $483.55 and a fifty-two week high of $1,073.46. The firm’s fifty day moving average is $822.30 and its 200-day moving average is $850.06. The company has a market cap of $392.54 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 1.47 and a beta of 1.58.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating the consensus estimate of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The firm had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same period in the previous year, the company earned $4.72 earnings per share. Caterpillar’s quarterly revenue was up 23.7% on a year-over-year basis. On average, analysts anticipate that Caterpillar Inc. will post 27.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays raised their price target on shares of Caterpillar from $800.00 to $900.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Erste Group Bank cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. Truist Financial dropped their target price on Caterpillar from $1,225.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $1,002.00 price target on shares of Caterpillar in a research note on Wednesday, August 5th. Finally, Wall Street Zen lowered Caterpillar from a “buy” rating to a “hold” rating in a research note on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $989.17.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: AI data-center opportunity: CAT is identified as a potential fourth-quarter rebound candidate after lagging other AI infrastructure-related stocks in the third quarter. Demand for data-center power equipment, along with favorable guidance and analyst estimate revisions, could support future results. Buy Q3 AI Data Center Laggards CAT, GLW, JBL for a Rebound in Q4
• Positive Sentiment: Industrial and infrastructure demand remain supportive: CAT is included among stocks that could benefit from steady factory orders, construction activity, mining demand and infrastructure spending. The company’s power systems may also gain from the rapid expansion of data centers. 4 Stocks to Boost Your Portfolio on Steady Growth in Factory Orders
• Positive Sentiment: Strong recent operating performance: Caterpillar’s latest reported quarter included record revenue of approximately $20.5 billion, 23.7% year-over-year growth and earnings of $8.17 per share, well above the $6.22 consensus estimate. Local leaders also highlighted the company’s planned $1 billion investment in Sanford, signaling continued expansion. Caterpillar is a Great Business. But is CAT Stock a Great Buy?

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.