10,380 Caterpillar Inc. $CAT Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Caterpillar stake by 3%, selling 10,380 shares in the third quarter; it retained 334,279 shares valued at about $271 million. Institutional investors collectively own 70.98% of CAT.
• Caterpillar reported quarterly EPS of $7.20, beating estimates, while revenue of $20.68 billion narrowly missed expectations; revenue rose 17.3% year over year. The article also cites a $78.1 billion backlog and strong cash flow as supports for the outlook.
• Analyst views remain mixed: the consensus rating is “Moderate Buy,” but several firms cut price targets amid concerns about cyclical demand, costs and AI-related selling pressure.

Pictet Asset Management Holding SA reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 334,279 shares of the industrial products company's stock after selling 10,380 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of Caterpillar worth $271,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Caterpillar during the second quarter worth about $40,457,153,000. State Street Corp grew its stake in shares of Caterpillar by 4.0% in the 2nd quarter. State Street Corp now owns 36,276,960 shares of the industrial products company's stock valued at $37,120,529,000 after purchasing an additional 1,396,356 shares during the period. Bank of America Corp DE bought a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $5,818,150,000. Bank of New York Mellon Corp acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $3,192,710,000. Finally, Legal & General Group Plc acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $2,783,451,000. Institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In related news, CEO Joseph Creed sold 32,401 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. This represents a 48.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Fish, Jr. acquired 1,000 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were bought at an average cost of $620.39 per share, for a total transaction of $620,390.00. Following the acquisition, the director owned 4,714 shares in the company, valued at approximately $2,924,518.46. The trade was a 26.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Up 1.0%

Shares of CAT opened at $559.32 on Friday. The company has a market capitalization of $255.94 billion, a P/E ratio of 21.94, a PEG ratio of 0.96 and a beta of 1.65. Caterpillar Inc. has a one year low of $537.08 and a one year high of $1,073.46. The business's 50 day simple moving average is $760.19 and its 200-day simple moving average is $806.23. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.42 and a quick ratio of 0.88.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly 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. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The firm had revenue of $20.68 billion during the quarter, compared to analysts' expectations of $20.76 billion. During the same period last year, the firm posted $4.95 EPS. The business's revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 27.39 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders 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 dividend yield of 1.2%. The ex-dividend date is Monday, October 26th. Caterpillar's dividend payout ratio is presently 25.58%.

Caterpillar News Roundup

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Strong results and backlog support the outlook. Caterpillar’s third-quarter earnings beat estimates, while its $78.1 billion backlog, stronger cash flow and expanding margins point to solid demand. The company is also expanding capacity to meet power-generation demand. Article: CAT Shares Fall Despite Q3 Earnings Beat
• Neutral Sentiment: Upcoming investor event. Construction Industries Group President Rod Shurman is scheduled to take part in a Bernstein-hosted fireside chat on Nov. 17; no new financial guidance was announced. Article: Caterpillar executive to participate in Bernstein fireside chat
• Negative Sentiment: AI-trade selling and valuation concerns weigh on the stock. Investors have been selling Caterpillar alongside other industrial companies amid worries that AI-related investment could slow. The market increasingly treats CAT as a data-center power play, exposing it to shifts in sentiment even though power generation accounted for about 15% of 2025 sales. Article: AI selloff spreads to industrials
• Negative Sentiment: Execution and cyclical risks remain. Reports cite orders falling, dealers trimming inventories, and tariffs, manufacturing costs and production constraints pressuring margins. Morgan Stanley also cut its price target by 26% after earnings, highlighting the risk of a cyclical test despite the backlog. Article: Morgan Stanley cuts Caterpillar price target

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CAT shares. Wells Fargo & Company cut their target price on Caterpillar from $1,155.00 to $840.00 and set an "overweight" rating for the company in a research report on Monday, October 26th. Robert W. Baird set a $970.00 price target on Caterpillar in a research report on Wednesday, August 5th. Erste Group Bank lowered Caterpillar from a "buy" rating to a "hold" rating in a research note on Monday, July 27th. Barclays lifted their price objective on Caterpillar from $800.00 to $900.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. Finally, DA Davidson cut their price objective on Caterpillar from $882.00 to $685.00 and set a "neutral" rating for the company in a report on Monday, November 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $898.25.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company's products are commonly sold under the Cat brand.

Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.

The company was formed in 1925 through the merger of the Holt Manufacturing Company and the C.

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