Tocqueville Asset Management L.P. Invests $84.43 Million in Caterpillar Inc. $CAT

Tocqueville Asset Management L.P. purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 79,281 shares of the industrial products company’s stock, valued at approximately $84,426,000. Caterpillar comprises approximately 1.1% of Tocqueville Asset Management L.P.’s holdings, making the stock its 16th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lam Group Inc. purchased a new position in shares of Caterpillar in the 1st quarter valued at approximately $26,000. Frazier Financial Advisors LLC raised its stake in shares of Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 33 shares during the last quarter. Decker Retirement Planning Inc. lifted its holdings in shares of Caterpillar by 440.0% during the second quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 22 shares during the period. Cornerstone Financial Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth $32,000. Finally, Matrix Trust Co grew its position in Caterpillar by 93.8% in the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after buying an additional 15 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on CAT shares. 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 lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. DA Davidson increased their price target on shares of Caterpillar from $845.00 to $882.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Oppenheimer restated an “outperform” rating and issued a $1,118.00 price objective on shares of Caterpillar in a research report on Tuesday, August 4th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $1,002.00 target price on shares of Caterpillar in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $995.52.

Insider Buying and Selling at Caterpillar

In other news, CEO Joseph E. Creed sold 32,401 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the transaction, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at $27,954,303.90. The trade was a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

Caterpillar Stock Performance

NYSE:CAT opened at $778.59 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 firm has a 50-day moving average price of $885.31 and a two-hundred day moving average price of $838.23. Caterpillar Inc. has a twelve month low of $410.52 and a twelve month high of $1,073.46. The company has a market capitalization of $357.89 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 1.38 and a beta of 1.60.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. During the same quarter in the prior year, the firm earned $4.72 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. As a group, research analysts expect that Caterpillar Inc. will post 27.35 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th were issued a dividend of $1.63 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date was Monday, July 20th. This represents a $6.52 dividend on an annualized basis and a yield of 0.8%. Caterpillar’s payout ratio is currently 28.06%.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Higher earnings expectations: Erste Group Bank raised its FY2026 EPS forecast for Caterpillar to $27.50 from $24.78, above the current analyst consensus of $27.14. The firm maintains a “Hold” rating, so the estimate increase is positive but not a strong bullish endorsement. Erste Group Bank Predicts Stronger Earnings for Caterpillar
• Positive Sentiment: Analyst sentiment remains favorable: Caterpillar has received a consensus “Moderate Buy” rating, while a separate analysis highlighted the stock as a potential beneficiary of improving industrial activity. However, brokerage recommendations can be overly optimistic and may have limited immediate impact. Caterpillar Receives Consensus Rating of Moderate Buy
• Positive Sentiment: Improving durable-goods demand: July durable-goods orders increased 1.1%, supporting the view that a manufacturing recovery could benefit Caterpillar’s equipment demand and broader industrial stocks. 4 Industrial Stocks to Grab on Robust Jump in Durable Goods Orders
• Neutral Sentiment: Investors are watching the pullback: Commentary focused on Caterpillar’s recent decline, suggesting the stock’s technical performance and elevated valuation remain important considerations even after strong quarterly earnings. Why We’re Watching the Caterpillar Stock Pullback
• Negative Sentiment: Market-wide pressure: Caterpillar was among the stocks weighing on the Dow as investors reduced exposure to major companies, indicating that broader market sentiment—not just company-specific fundamentals—is contributing to the weakness. NVIDIA Corp., Caterpillar Share Losses Lead Dow’s Fall
• Negative Sentiment: CEO insider selling: CEO Joseph E. Creed sold 32,401 shares for approximately $26.2 million, reducing his position by 48.39%. The sale may concern investors, although insider transactions can reflect personal financial planning rather than a change in the company’s outlook. SEC Insider Transaction Filing

Caterpillar Company Profile

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.