Caterpillar Inc. $CAT Stock Bought by Robbins Farley

Robbins Farley increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 17.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,459 shares of the industrial products company’s stock after buying an additional 1,282 shares during the quarter. Caterpillar accounts for about 2.5% of Robbins Farley’s holdings, making the stock its 9th biggest holding. Robbins Farley’s holdings in Caterpillar were worth $6,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. bought a new position in Caterpillar in the second quarter valued at about $40,457,153,000. Bank of America Corp DE acquired a new position in Caterpillar during the second quarter worth about $5,818,150,000. Diamant Asset Management Inc. lifted its holdings in shares of Caterpillar by 68,427.2% in the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock worth $2,224,992,000 after acquiring an additional 3,136,020 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Caterpillar in the second quarter worth about $3,192,710,000. Finally, Legal & General Group Plc bought a new position in shares of Caterpillar in the second quarter worth about $2,783,451,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

Caterpillar stock opened at $725.27 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $333.38 billion, a PE ratio of 31.21, a P/E/G ratio of 1.25 and a beta of 1.58. Caterpillar Inc. has a 12 month low of $510.21 and a 12 month high of $1,073.46. The stock has a 50-day moving average price of $807.63 and a two-hundred day moving average price of $856.77.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period last year, the firm posted $4.72 earnings per share. Analysts expect that Caterpillar Inc. will post 27.49 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, October 26th. Caterpillar’s dividend payout ratio is 28.06%.

Insider Transactions at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the transaction, the chief executive officer owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAT. Needham & Company LLC set a $980.00 price target on shares of Caterpillar in a research note on Thursday, September 10th. Wall Street Zen upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. UBS Group upped their price objective on shares of Caterpillar from $900.00 to $925.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Erste Group Bank downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Caterpillar from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $967.83.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Brokerages maintain a consensus price target of $967.83, implying substantial potential upside from the current share price and signaling that analysts generally expect Caterpillar to recover. Caterpillar consensus target price article
• Positive Sentiment: Caterpillar was upgraded to Zacks Rank #2 (Buy), reflecting improving expectations for its earnings prospects. The upgrade could support the stock, although Zacks’ ranking is only one analyst-based indicator. Caterpillar rating upgrade article
• Positive Sentiment: Recent coverage continues to highlight Caterpillar as a potentially attractive investment based on favorable brokerage recommendations. Its latest reported quarter also showed strong momentum, with revenue up 23.7% year over year and earnings well above consensus. Wall Street analyst recommendations article
• Neutral Sentiment: Coverage comparing Caterpillar with W.W. Grainger and other industrial-products companies provides performance context but does not identify a major new catalyst for CAT. Caterpillar industrial peer comparison article
• Negative Sentiment: Caterpillar formally objected to the unauthorized tokenized trading of its shares on the OKX-ICE venue, citing regulatory and reputational concerns. The issue is unlikely to materially affect operations, but it could create short-term uncertainty around the company’s digital-market exposure. Caterpillar tokenized shares objection article

Caterpillar 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.