Oxbow Advisors LLC bought a new stake in Caterpillar Inc. (NYSE:CAT – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor bought 5,587 shares of the industrial products company’s stock, valued at approximately $5,949,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CAT. BlackRock Inc. bought a new stake in shares of Caterpillar during the second quarter valued at approximately $40,457,153,000. State Street Corp lifted its stake in shares of Caterpillar by 1.1% in the fourth quarter. State Street Corp now owns 35,388,550 shares of the industrial products company’s stock valued at $20,273,039,000 after buying an additional 385,204 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Caterpillar by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 10,610,182 shares of the industrial products company’s stock valued at $6,072,572,000 after buying an additional 94,524 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Caterpillar by 0.6% during the fourth quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company’s stock worth $5,438,408,000 after acquiring an additional 54,069 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Caterpillar by 16.0% in the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock valued at $3,860,457,000 after acquiring an additional 928,974 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.
Wall Street Analysts Forecast Growth
CAT has been the subject of a number of recent research reports. UBS Group boosted their price objective on Caterpillar from $900.00 to $925.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Zacks Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Truist Financial set a $980.00 price target on shares of Caterpillar in a report on Wednesday, August 5th. Wells Fargo & Company upped their price objective on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of Caterpillar from $877.00 to $897.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $995.52.
Key Stories Impacting Caterpillar
Here are the key news stories impacting Caterpillar this week:
- Positive Sentiment: July durable-goods orders rose 1.1%, suggesting a manufacturing rebound that could support demand for Caterpillar’s construction, mining and industrial equipment. CAT was identified as one of several industrial stocks positioned to benefit. 4 Industrial Stocks to Grab on Robust Jump in Durable Goods Orders
- Positive Sentiment: Erste Group Bank reportedly expects stronger earnings for Caterpillar, adding to the constructive analyst outlook surrounding the company. Erste Group Bank Predicts Stronger Earnings for Caterpillar
- Positive Sentiment: Caterpillar’s power-generation business is benefiting from rising electricity demand tied to data centers and artificial intelligence. Recent coverage points to a first-ever quarterly sales total above $20 billion and identifies power generation as an increasingly important growth engine. Forget the Industry Labels: Chevron and Caterpillar Are Both Betting on the AI Power Boom
- Positive Sentiment: The company is applying its autonomous-mining expertise to industrial AI deployment, including field-support tools such as the Cat AI Assistant. Caterpillar also committed $100 million to AI and robotics workforce training, which could improve productivity and strengthen its technology positioning. Caterpillar Commits $100 Million to AI and Robotics Training
- Neutral Sentiment: Wall Street’s average brokerage recommendation remains bullish, but the coverage notes that sell-side ratings are often overly optimistic and may have limited predictive value for CAT’s performance. Is Caterpillar a Buy as Wall Street Analysts Look Optimistic?
- Negative Sentiment: At a high earnings multiple, Caterpillar is increasingly being valued like a technology-growth company. That raises the risk of pressure on the stock if AI-related growth, power-equipment demand or earnings forecasts fail to exceed expectations. How AI Power Demand Transformed Caterpillar into a High-Multiple Tech Play
Caterpillar Stock Down 0.3%
CAT stock opened at $797.72 on Tuesday. The stock has a 50-day simple moving average of $889.47 and a two-hundred day simple moving average of $838.20. Caterpillar Inc. has a twelve month low of $410.52 and a twelve month high of $1,073.46. The firm has a market capitalization of $366.69 billion, a PE ratio of 34.33, a PEG ratio of 1.40 and a beta of 1.60. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65.
Caterpillar (NYSE:CAT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.72 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 27.14 EPS for the current fiscal year.
Caterpillar Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, July 20th. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s payout ratio is 28.06%.
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.
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