Calamos Advisors LLC Lowers Position in Caterpillar Inc. $CAT

Key Points

• Caterpillar beat expectations: it reported $5.16 EPS versus $4.67 expected and revenue of $19.13B (up 17.9% YoY), with analysts forecasting roughly 22.88 EPS for the year.
• Institutional and insider activity diverged: Calamos Advisors trimmed its stake by 3.8% to 95,705 shares (about $54.8M) while other institutions added large positions and institutional ownership is ~70.98%, yet insiders sold roughly 125,950 shares (~$88.6M) in the last three months.
• Shareholder returns and sentiment: Caterpillar declared a quarterly dividend of $1.51 (ex‑dividend Apr 20, paid May 19) and several analysts raised price targets (average target $767.77; consensus rating "Moderate Buy"), supporting optimism despite valuation cautions.

Calamos Advisors LLC trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,705 shares of the industrial products company's stock after selling 3,817 shares during the period. Calamos Advisors LLC's holdings in Caterpillar were worth $54,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of Caterpillar by 3,949.8% in the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company's stock worth $2,494,568,000 after purchasing an additional 5,098,964 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Caterpillar by 20.7% during the third quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company's stock valued at $1,695,757,000 after buying an additional 609,023 shares during the last quarter. Legal & General Group Plc grew its holdings in Caterpillar by 2.2% during the 3rd quarter. Legal & General Group Plc now owns 2,802,068 shares of the industrial products company's stock valued at $1,337,007,000 after buying an additional 58,993 shares in the last quarter. Amundi grew its holdings in Caterpillar by 24.3% during the 3rd quarter. Amundi now owns 2,375,710 shares of the industrial products company's stock valued at $1,176,870,000 after buying an additional 464,036 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Caterpillar by 0.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,835,924 shares of the industrial products company's stock worth $1,051,746,000 after acquiring an additional 5,510 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Down 0.6%

Shares of NYSE CAT opened at $830.59 on Friday. Caterpillar Inc. has a 1 year low of $302.17 and a 1 year high of $845.27. The firm has a 50-day simple moving average of $740.91 and a two-hundred day simple moving average of $645.54. The company has a market cap of $386.46 billion, a P/E ratio of 44.13, a PEG ratio of 1.96 and a beta of 1.52. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, beating analysts' consensus estimates of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm had revenue of $19.13 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter in the prior year, the firm posted $5.14 earnings per share. The company's quarterly revenue was up 17.9% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 22.88 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, April 20th. Caterpillar's dividend payout ratio (DPR) is 32.09%.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Robert W. Baird upgraded CAT and raised its price target sharply (from $805 to $940), citing stronger fundamentals and boosting short‑term sentiment — this upgrade helped drive recent upside. Caterpillar NYSE: CAT Stock Price Up 3.3% Following Analyst Upgrade
• Positive Sentiment: Caterpillar reaffirmed its dividend (quarterly $1.51, paid May 19), supporting shareholder-return expectations and attracting income-focused investors. Caterpillar Inc. (CAT) Asserts Commitment to Shareholder Value Amid Management Change
• Positive Sentiment: Analysts and screens expect Caterpillar earnings to continue growing into the next report — that prospect of further earnings beats is a fundamental positive supporting the rally. Caterpillar (CAT) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: Longer-term thematic coverage highlights CAT’s exposure to AI/data‑center power and automation, reframing the company beyond traditional heavy equipment and supporting a higher multiple for some investors. More Than Just Dirt: Caterpillar Is the AI Stock Nobody Saw Coming
• Neutral Sentiment: CFO Andrew Bonfield announced retirement in October; internal successor Kyle Epley will take over in May — management continuity reduces disruption risk, but any leadership change bears watching. Caterpillar (CAT) CFO Andrew Bonfield to Retire
• Neutral Sentiment: Several pieces call out the very strong short‑term run (30–90 day gains) and prompt a valuation check — this fuels both bullish momentum and investor caution about stretched multiples. Caterpillar (CAT) Valuation Check After A Strong Short Term Share Price Run
• Negative Sentiment: Morgan Stanley raised its numerical target slightly but kept an Underweight rating, signaling macro and cyclical downside risk to earnings that could pressure the stock if industrial demand softens. Morgan Stanley Ups Caterpillar (CAT) Target to $430, Flags Macro Risks to Earnings
• Negative Sentiment: Critical commentary and "avoid" pieces warn that the post‑earnings rally may have priced in too much growth — these narratives can accelerate profit‑taking by momentum traders. 3 Reasons to Avoid CAT and 1 Stock to Buy Instead

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. HSBC increased their target price on Caterpillar from $660.00 to $850.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Barclays upped their price target on shares of Caterpillar from $625.00 to $700.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 31st. Wall Street Zen lowered shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. CICC Research assumed coverage on shares of Caterpillar in a report on Friday, February 6th. They issued an "outperform" rating on the stock. Finally, Jefferies Financial Group upped their target price on shares of Caterpillar from $825.00 to $900.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Sixteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $767.77.

Insider Activity

In other news, insider Anthony D. Fassino sold 7,891 shares of the company's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $776.90, for a total value of $6,130,517.90. Following the transaction, the insider directly owned 46,643 shares in the company, valued at approximately $36,236,946.70. This represents a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joseph E. Creed sold 2,500 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $718.93, for a total transaction of $1,797,325.00. Following the completion of the transaction, the chief executive officer directly owned 35,083 shares in the company, valued at $25,222,221.19. This represents a 6.65% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 125,950 shares of company stock valued at $88,577,390. Insiders own 0.33% of the company's stock.

Caterpillar Profile

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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