Pinnacle Financial Group LLC IL grew its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 160.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,107 shares of the industrial products company’s stock after buying an additional 1,912 shares during the quarter. Pinnacle Financial Group LLC IL’s holdings in Caterpillar were worth $2,519,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the business. Stonebridge Financial Group LLC grew its stake in Caterpillar by 0.7% in the 2nd quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company’s stock valued at $1,741,000 after purchasing an additional 11 shares during the period. Inspirion Wealth Advisors LLC raised its stake in shares of Caterpillar by 1.2% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company’s stock worth $936,000 after purchasing an additional 11 shares during the period. Bell Bank grew its position in Caterpillar by 0.6% during the second quarter. Bell Bank now owns 1,865 shares of the industrial products company’s stock valued at $1,986,000 after buying an additional 11 shares during the period. Cornerstone Advisory LLC grew its position in Caterpillar by 0.7% during the first quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock valued at $1,288,000 after buying an additional 12 shares during the period. Finally, Harbor Investment Advisory LLC increased its holdings in Caterpillar by 0.6% during the second quarter. Harbor Investment Advisory LLC now owns 2,057 shares of the industrial products company’s stock worth $2,190,000 after buying an additional 13 shares during the last quarter. 70.98% of the stock is owned by institutional investors.
Caterpillar News Summary
Here are the key news stories impacting Caterpillar this week:
- Positive Sentiment: Caterpillar’s third-quarter revenue increased 17.3% year over year to $20.68 billion, while adjusted earnings of $7.20 per share exceeded consensus by $0.14. The results reinforce the company’s earnings momentum. CAT Q3 deep dive: capacity expansion and backlog growth shape outlook amid market caution
- Positive Sentiment: Third-quarter order backlog reached a record $78 billion, extending delivery timelines well into the next decade. Power-generation sales to end users rose 75%, helped by demand from data centers, supporting Caterpillar’s longer-term growth outlook. Caterpillar: 3 Key Takeaways for Long-Term Investors
- Positive Sentiment: Truist reiterated a “Buy” rating. A separate global-bank analysis argued that the market may be overlooking Caterpillar’s backlog and secular data-center power demand, with substantial upside possible if execution remains strong. Caterpillar Crashed By 25% Over 6 Months But This Global Banking Giant Says 85% Gains Will Come
- Neutral Sentiment: Truist reduced its price target to $1,027 from $1,100 while retaining its Buy rating. The lower target reflects greater caution but still implies significant potential appreciation from recent trading levels. Could Caterpillar Actually Climb 65% After Its Earnings Slide? Or Is Truist Totally Wrong?
- Negative Sentiment: Royal Bank of Canada and Citigroup trimmed their Caterpillar price targets, adding to investor concerns that valuation, cyclical demand and execution risks may limit near-term gains. RBC price target reduction Citi price target trim
- Negative Sentiment: Morgan Stanley and JPMorgan issued pessimistic forecasts, while an analyst downgrade recently sent CAT shares lower. The cluster of cautious calls is likely weighing on the stock despite the earnings beat. Morgan Stanley forecast JPMorgan forecast
Caterpillar Stock Performance
Shares of CAT opened at $622.73 on Monday. The stock’s 50-day simple moving average is $783.25 and its 200 day simple moving average is $807.52. The stock has a market capitalization of $286.25 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42. Caterpillar Inc. has a 52-week low of $537.08 and a 52-week high of $1,073.46.
Caterpillar (NYSE:CAT – Get Free Report) last posted its earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share for the quarter, beating analysts’ consensus estimates of $7.06 by $0.14. The business had revenue of $20.68 billion during the quarter, compared to analyst estimates of $20.76 billion. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.95 EPS. Research analysts forecast that Caterpillar Inc. will post 27.75 EPS for the current fiscal year.
Caterpillar Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, October 26th. Caterpillar’s dividend payout ratio (DPR) is 25.58%.
Insider Buying and Selling
In related news, CEO Joseph E. Creed sold 32,401 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 34,555 shares of the company’s stock, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.
Analyst Ratings Changes
CAT has been the topic of a number of research analyst reports. Freedom Broker upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 target price on the stock in a research note on Thursday, September 10th. Citigroup decreased their price objective on Caterpillar from $950.00 to $800.00 and set a “buy” rating for the company in a report on Friday. Zacks Research cut Caterpillar from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Oppenheimer reiterated an “outperform” rating and set a $1,009.00 target price on shares of Caterpillar in a research report on Thursday. Finally, Robert W. Baird set a $970.00 price target on shares of Caterpillar in a research report on Wednesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $905.75.
Read Our Latest Stock Report on Caterpillar
About Caterpillar
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.
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