Inspire Investing LLC lifted its position in Caterpillar Inc. (NYSE:CAT – Free Report) by 17.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,445 shares of the industrial products company’s stock after purchasing an additional 11,909 shares during the quarter. Caterpillar makes up 2.7% of Inspire Investing LLC’s investment portfolio, making the stock its 2nd biggest holding. Inspire Investing LLC’s holdings in Caterpillar were worth $64,413,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Caterpillar during the second quarter worth approximately $40,457,153,000. Bank of America Corp DE purchased a new stake in Caterpillar in the 2nd quarter valued at $5,818,150,000. Diamant Asset Management Inc. raised its position in Caterpillar by 68,427.2% in the 1st quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock valued at $2,224,992,000 after purchasing an additional 3,136,020 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Caterpillar during the 2nd quarter worth $3,192,710,000. Finally, Legal & General Group Plc acquired a new stake in Caterpillar during the 2nd quarter worth $2,783,451,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.
Analyst Ratings Changes
CAT has been the topic of several research reports. Erste Group Bank downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. Citigroup reduced their target price on shares of Caterpillar from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Monday, October 12th. Weiss Ratings upgraded shares of Caterpillar from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, October 14th. Needham & Company LLC set a $980.00 price target on Caterpillar in a report on Thursday, September 10th. Finally, Oppenheimer lowered their price target on Caterpillar from $1,118.00 to $1,009.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Fifteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $967.83.
View Our Latest Stock Analysis on CAT
Key Stories Impacting Caterpillar
Here are the key news stories impacting Caterpillar this week:
- Positive Sentiment: Analysts expect Caterpillar to deliver year-over-year earnings growth in its upcoming third-quarter report. The company’s positive Earnings ESP and favorable estimate revisions suggest potential for an earnings beat, supported by manufacturing strength and demand for industrial equipment. Caterpillar Reports Next Week: Wall Street Expects Earnings Growth
- Positive Sentiment: Technical and fundamental indicators are encouraging some investors to view the recent decline as a buying opportunity. A hammer chart pattern points to possible support, while upward earnings-estimate revisions could help drive a near-term recovery. Bears Are Losing Control Over Caterpillar
- Positive Sentiment: Zacks lists Caterpillar among industrial companies with the potential to outperform third-quarter earnings expectations, reflecting continued confidence in the sector’s demand environment. Industrial Stocks Set to Outshine Q3 Earnings Estimates
- Neutral Sentiment: The key catalyst is Caterpillar’s forthcoming quarterly report. Investors will focus on whether earnings growth, revenue momentum and management’s outlook validate the optimistic estimates. The company’s previous quarter featured a substantial earnings and revenue beat, providing a supportive comparison.
- Negative Sentiment: The recent selloff has materially weakened CAT’s momentum and caused it to underperform the S&P 500, with much of the decline concentrated in only a few trading sessions. Continued investor caution, profit-taking or disappointment in the upcoming report could keep pressure on the shares. Caterpillar Just Dropped 10% in a Month
Insider Buying and Selling
In related news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the sale, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by insiders.
Caterpillar Price Performance
Shares of NYSE CAT opened at $686.52 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85. The stock has a fifty day moving average price of $798.82 and a 200 day moving average price of $855.65. Caterpillar Inc. has a 1-year low of $521.02 and a 1-year high of $1,073.46. The company has a market cap of $315.57 billion, a PE ratio of 29.54, a P/E/G ratio of 1.20 and a beta of 1.58.
Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. Caterpillar’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the firm posted $4.72 EPS. Sell-side analysts forecast that Caterpillar Inc. will post 27.74 EPS for the current year.
Caterpillar Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar’s dividend payout ratio is currently 28.06%.
Caterpillar Profile
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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