Byrne Asset Management LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 19.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,121 shares of the industrial products company’s stock after purchasing an additional 681 shares during the quarter. Caterpillar comprises approximately 1.7% of Byrne Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Byrne Asset Management LLC’s holdings in Caterpillar were worth $3,087,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversify Advisory Services LLC acquired a new stake in shares of Caterpillar in the 2nd quarter valued at about $5,372,000. D.B. Root & Company LLC acquired a new position in Caterpillar during the 2nd quarter worth approximately $850,000. Dearborn Partners LLC bought a new position in Caterpillar in the second quarter worth approximately $20,293,000. B. Metzler seel. Sohn & Co. AG grew its stake in Caterpillar by 4.3% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 62,731 shares of the industrial products company’s stock valued at $66,802,000 after acquiring an additional 2,590 shares during the period. Finally, Van Hulzen Asset Management LLC increased its holdings in shares of Caterpillar by 85.3% during the second quarter. Van Hulzen Asset Management LLC now owns 2,809 shares of the industrial products company’s stock valued at $2,991,000 after acquiring an additional 1,293 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Barclays increased their target price on Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. UBS Group boosted their price target on shares of Caterpillar from $900.00 to $925.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. DA Davidson raised their price objective on shares of Caterpillar from $845.00 to $882.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Freedom Broker raised shares of Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 price target on the stock in a research report on Thursday, September 10th. Finally, Erste Group Bank lowered Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and a consensus price target of $989.17.
Caterpillar Stock Up 2.0%
Shares of CAT traded up $17.13 during trading hours on Tuesday, reaching $865.27. 905,459 shares of the stock traded hands, compared to its average volume of 2,812,390. Caterpillar Inc. has a 52 week low of $483.55 and a 52 week high of $1,073.46. The company has a market cap of $397.74 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 1.47 and a beta of 1.58. The stock has a fifty day simple moving average of $821.77 and a 200 day simple moving average of $851.07. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.
Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings data 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. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The business had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. During the same period in the prior year, the firm posted $4.72 EPS. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 27.37 EPS for the current year.
Insider Activity at Caterpillar
In related news, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the sale, the chief executive officer directly owned 34,555 shares in the company, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.
Key Stories Impacting Caterpillar
Here are the key news stories impacting Caterpillar this week:
- Positive Sentiment: AI-related data-center construction is emerging as an additional growth driver for Caterpillar’s power-equipment business. Analysts view CAT as a potential fourth-quarter rebound candidate after lagging other AI infrastructure stocks in the third quarter, with demand, guidance and estimate revisions supporting the thesis. Buy Q3 AI Data Center Laggards CAT, GLW, JBL for a Rebound in Q4 Zacks AI Data Center Laggards Article
- Positive Sentiment: Steady factory orders, ongoing infrastructure investment and resilient construction and mining activity are cited as reasons CAT could continue to benefit despite inflation, tariffs and higher energy costs. Stocks to Boost Your Portfolio on Factory Orders
- Positive Sentiment: The latest quarterly results reinforce the fundamental story: revenue reached a record roughly $20.5 billion, up 23.7% year over year, while adjusted earnings of $8.17 per share exceeded expectations of $6.22. Caterpillar is a Great Business
- Neutral Sentiment: Several market roundups list CAT among construction and mining stocks worth monitoring, but provide limited new company-specific information. Promising Construction Stocks Promising Mining Stocks
- Negative Sentiment: One analysis argues that data-center tailwinds are real but already reflected in CAT’s share price. With a reported P/E ratio near 37, the valuation leaves less room for execution disappointments or slower industrial growth. Caterpillar Data Center Tailwinds and Valuation
About Caterpillar
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.
The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.
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