Caterpillar Inc. $CAT Shares Purchased by Harfst & Associates Inc.

Key Points

• Harfst & Associates increased its Caterpillar stake by 1,330.9% in the third quarter, acquiring 38,662 additional shares for a total holding valued at approximately $33.7 million. Institutional investors collectively own 70.98% of CAT.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $967.83, despite some target-price reductions.
• Caterpillar reported strong quarterly results, with EPS of $8.17 and revenue of $20.54 billion, both above estimates. The company also announced a quarterly dividend of $1.63 per share, representing a 0.9% annualized yield.

Harfst & Associates Inc. raised its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 1,330.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,567 shares of the industrial products company's stock after acquiring an additional 38,662 shares during the quarter. Caterpillar comprises approximately 6.4% of Harfst & Associates Inc.'s investment portfolio, making the stock its 3rd biggest holding. Harfst & Associates Inc.'s holdings in Caterpillar were worth $33,702,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Oath Planning LLC acquired a new stake in shares of Caterpillar in the 3rd quarter valued at $516,000. Robeco Institutional Asset Management B.V. raised its position in shares of Caterpillar by 23.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 219,176 shares of the industrial products company's stock worth $177,706,000 after acquiring an additional 41,055 shares during the last quarter. Wagner Wealth Management Corp acquired a new position in shares of Caterpillar during the third quarter valued at $361,000. Zullo Investment Group Inc. lifted its stake in shares of Caterpillar by 1.2% during the third quarter. Zullo Investment Group Inc. now owns 1,971 shares of the industrial products company's stock valued at $1,599,000 after acquiring an additional 24 shares during the period. Finally, Diversify Advisory Services LLC lifted its stake in shares of Caterpillar by 34.8% during the third quarter. Diversify Advisory Services LLC now owns 8,289 shares of the industrial products company's stock valued at $6,721,000 after acquiring an additional 2,138 shares during the period. 70.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on CAT. President Capital started coverage on Caterpillar in a research report on Friday, September 18th. They issued a "buy" rating and a $999.00 price objective for the company. Needham & Company LLC set a $980.00 price objective on Caterpillar in a report on Thursday, September 10th. Truist Financial cut their target price on shares of Caterpillar from $1,225.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. Wall Street Zen upgraded shares of Caterpillar from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $749.00 target price on shares of Caterpillar in a research note on Wednesday, October 14th. Fifteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and a consensus target price of $967.83.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar received a Zacks Rank upgrade to #2 (Buy), reflecting increased optimism about its earnings outlook. That could provide support to the shares, although the upgrade is based on a quantitative ranking rather than a major change in company fundamentals. Caterpillar rating upgrade article
• Positive Sentiment: Caterpillar is investing $10 million to expand its North Carolina workforce and manufacturing presence. The investment signals confidence in regional production demand and could support long-term growth, though it is unlikely to materially affect near-term earnings. Caterpillar North Carolina investment article
• Neutral Sentiment: Analyst coverage remains broadly favorable, with Wall Street’s average recommendation suggesting CAT is suitable for portfolios. However, the report cautions that sell-side recommendations can be overly optimistic, limiting the signal’s value for investors. Caterpillar analyst recommendation article
• Neutral Sentiment: A comparison with W.W. Grainger and other industrial-products companies provides context on CAT’s year-to-date performance, but does not introduce a new company-specific catalyst. Caterpillar peer performance article
• Negative Sentiment: Caterpillar formally objected to the unauthorized tokenized trading of its shares on the OKX-ICE venue, citing regulatory and reputational risks. The dispute may create headline risk and reinforces concerns about how CAT stock is represented in unregistered digital-asset markets. Caterpillar tokenized shares article

Caterpillar Stock Performance

CAT stock opened at $725.27 on Wednesday. Caterpillar Inc. has a twelve month low of $510.21 and a twelve month high of $1,073.46. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The company has a market cap of $333.38 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.58. The business's fifty day moving average is $807.63 and its 200-day moving average is $856.77.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping analysts' consensus estimates of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The business had revenue of $20.54 billion during the quarter, compared to analysts' expectations of $19.34 billion. During the same period in the previous year, the firm earned $4.72 earnings per share. The firm's quarterly revenue was up 23.7% compared to the same quarter last year. Equities research analysts forecast that Caterpillar Inc. will post 27.49 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $6.52 annualized dividend and a yield of 0.9%. Caterpillar's dividend payout ratio is presently 28.06%.

Insider Transactions at Caterpillar

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company's stock.

Caterpillar Company 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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