Investment Management Corp of Ontario Grows Position in Caterpillar Inc. $CAT

Investment Management Corp of Ontario increased its position in Caterpillar Inc. (NYSE:CAT) by 33.9% in the fourth quarter, HoldingsChannel reports. The firm owned 43,855 shares of the industrial products company’s stock after purchasing an additional 11,093 shares during the quarter. Investment Management Corp of Ontario’s holdings in Caterpillar were worth $25,123,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Torren Management LLC purchased a new position in Caterpillar during the fourth quarter valued at $27,000. Frazier Financial Advisors LLC raised its stake in Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after buying an additional 33 shares during the last quarter. IFS Advisors LLC purchased a new position in Caterpillar during the fourth quarter valued at $31,000. Rialto Wealth Management LLC raised its stake in Caterpillar by 47.4% during the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after buying an additional 18 shares during the last quarter. Finally, Cornerstone Financial Management LLC purchased a new position in Caterpillar during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Up 1.0%

Caterpillar stock opened at $955.17 on Thursday. The firm has a market cap of $439.94 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 1.87 and a beta of 1.59. The stock has a fifty day simple moving average of $865.45 and a two-hundred day simple moving average of $735.73. Caterpillar Inc. has a 12 month low of $356.96 and a 12 month high of $975.64. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. The business had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.25 EPS. Equities analysts predict that Caterpillar Inc. will post 24.62 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, July 20th. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 0.7%. Caterpillar’s dividend payout ratio is presently 30.06%.

Insider Buying and Selling

In related news, CFO Andrew R. J. Bonfield sold 15,674 shares of Caterpillar stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the sale, the chief financial officer owned 52,935 shares of the company’s stock, valued at $48,631,913.85. The trade was a 22.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO William E. Schaupp sold 360 shares of Caterpillar stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total value of $326,160.00. Following the completion of the sale, the chief accounting officer directly owned 530 shares of the company’s stock, valued at $480,180. The trade was a 40.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 95,773 shares of company stock valued at $87,642,635 over the last ninety days. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on Caterpillar from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Wolfe Research lifted their price objective on Caterpillar from $670.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. lifted their price objective on Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a research note on Wednesday. Sanford C. Bernstein lifted their price objective on Caterpillar from $769.00 to $879.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Finally, Barclays lifted their target price on Caterpillar from $700.00 to $800.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $935.09.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: JPMorgan raised its price target on Caterpillar to $1,165 from $1,125 and kept an “overweight” rating, signaling continued confidence in the stock’s upside. MarketScreener
• Positive Sentiment: Articles highlighted Caterpillar as a blue-chip stock to own, helped by bullish market momentum as the Dow reached a new milestone. Zacks
• Positive Sentiment: Caterpillar recently increased its dividend, reinforcing management’s confidence in cash generation and making the stock more attractive to income investors. Yahoo Finance
• Positive Sentiment: Coverage also pointed to Caterpillar’s improving growth story, including a large AI-related backlog and rising demand in its power generation business, which supports a stronger long-term outlook. Yahoo Finance
• Neutral Sentiment: Several market recap pieces noted Caterpillar’s gains were helping lift the Dow to record highs, but these articles were more about broad index performance than a new company-specific catalyst. MSN

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.