Amundi grew its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 29.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,217,637 shares of the industrial products company's stock after purchasing an additional 503,497 shares during the quarter. Amundi owned about 0.48% of Caterpillar worth $1,571,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in CAT. Pacific Point Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter valued at about $579,000. Brighton Jones LLC grew its stake in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares during the period. United Bank increased its position in Caterpillar by 108.5% in the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company's stock valued at $1,585,000 after buying an additional 2,125 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in Caterpillar by 3.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company's stock worth $3,551,000 after buying an additional 347 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Caterpillar by 6.5% in the second quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company's stock worth $222,120,000 after acquiring an additional 34,846 shares in the last quarter. Institutional investors own 70.98% of the company's stock.
Key Caterpillar News
Here are the key news stories impacting Caterpillar this week:
- Positive Sentiment: Earnings expectations are supportive. Zacks upgraded Caterpillar to Rank #2 (Buy), citing improving earnings prospects. The company is also viewed as having two factors that could support a quarterly earnings beat ahead of next week’s report. Caterpillar Earnings Expected to Grow
- Positive Sentiment: Strong recent fundamentals provide a cushion. Caterpillar’s latest reported quarter exceeded consensus estimates, with revenue rising 22.2% year over year and earnings per share reaching $5.54 versus the expected $4.65. Investors may be looking for this momentum to continue in the upcoming release.
- Neutral Sentiment: Investor attention remains high. Caterpillar is a heavily watched industrial stock, and analysts and investors are debating whether its powerful multiyear rally can continue. The company’s shares have gained substantially over five years, raising the importance of future earnings and cash-flow growth.
- Negative Sentiment: Valuation may be limiting further upside. Fair-value analysis is mixed: earnings multiples appear relatively reasonable, while a discounted-cash-flow estimate suggests the stock is approximately fairly valued. After its extended rally, the shares face a higher hurdle to justify additional gains. Caterpillar Stock Looks Slightly Above Fair Value
- Negative Sentiment: Analyst sentiment has softened. Erste Group Bank AG downgraded Caterpillar from “buy” to “hold,” adding pressure to the stock’s near-term outlook.
- Negative Sentiment: Rare-earth supply risks could increase costs or disrupt production. China’s tighter export controls on rare-earth materials used in motors, sensors and control systems may affect Caterpillar’s advanced equipment and force manufacturers to secure more expensive alternative supplies. Caterpillar Faces Rare Earth Squeeze
Insider Activity
In other news, insider Denise C. Johnson sold 12,605 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the sale, the insider directly owned 49,825 shares of the company's stock, valued at $45,236,615.75. This trade represents a 20.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the transaction, the chief financial officer directly owned 52,935 shares in the company, valued at $48,631,913.85. This trade represents a 22.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Caterpillar from $900.00 to $1,045.00 and gave the company a "buy" rating in a report on Friday, May 1st. Morgan Stanley set a $915.00 target price on Caterpillar and gave the stock an "equal weight" rating in a report on Friday, May 1st. Wolfe Research boosted their price target on shares of Caterpillar from $670.00 to $750.00 and gave the company an "outperform" rating in a research note on Tuesday, March 31st. Rothschild & Co Redburn upped their price objective on shares of Caterpillar from $700.00 to $950.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Finally, Robert W. Baird raised their price objective on shares of Caterpillar from $1,165.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Friday, June 26th. Fourteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $980.57.
View Our Latest Stock Report on Caterpillar
Caterpillar Trading Down 3.6%
Shares of CAT stock opened at $841.67 on Wednesday. Caterpillar Inc. has a 52-week low of $405.46 and a 52-week high of $1,073.46. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The company has a 50-day simple moving average of $928.73 and a two-hundred day simple moving average of $808.93. The company has a market capitalization of $387.66 billion, a price-to-earnings ratio of 41.89, a PEG ratio of 1.71 and a beta of 1.57.
Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. The firm had revenue of $17.41 billion for the quarter, compared to analysts' expectations of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The company's quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.25 EPS. Research analysts anticipate that Caterpillar Inc. will post 24.87 EPS for the current fiscal year.
Caterpillar Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be paid a $1.63 dividend. This is a boost from Caterpillar's previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. This represents a $6.52 dividend on an annualized basis and a yield of 0.8%. Caterpillar's dividend payout ratio is currently 32.45%.
Caterpillar Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).
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