Caterpillar Inc. $CAT Shares Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK cut its Caterpillar stake by 20% in the third quarter, selling 9,421 shares and ending the period with 37,731 shares valued at about $30.6 million.
• Caterpillar reported quarterly EPS of $7.20, above estimates of $7.06, while revenue of $20.68 billion slightly missed forecasts; revenue grew 17.3% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $898.25, though several firms recently lowered their targets.

AEGON ASSET MANAGEMENT UK Plc reduced its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 20.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,731 shares of the industrial products company's stock after selling 9,421 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in Caterpillar were worth $30,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Caterpillar during the 2nd quarter valued at about $40,457,153,000. Bank of America Corp DE acquired a new stake in Caterpillar during the second quarter worth about $5,818,150,000. Bank of New York Mellon Corp acquired a new stake in Caterpillar during the second quarter worth about $3,192,710,000. Legal & General Group Plc purchased a new position in Caterpillar during the second quarter worth about $2,783,451,000. Finally, Ascentis Wealth Management LLC raised its stake in Caterpillar by 110,539.0% during the second quarter. Ascentis Wealth Management LLC now owns 2,518,143 shares of the industrial products company's stock worth $2,711,772,000 after purchasing an additional 2,515,867 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT stock opened at $598.35 on Tuesday. The firm's 50 day moving average price is $756.16 and its 200-day moving average price is $806.00. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42. Caterpillar Inc. has a one year low of $537.08 and a one year high of $1,073.46. The firm has a market cap of $275.04 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.02 and a beta of 1.65.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The industrial products company reported $7.20 earnings per share for the quarter, topping analysts' consensus estimates of $7.06 by $0.14. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. The firm had revenue of $20.68 billion during the quarter, compared to analysts' expectations of $20.76 billion. During the same quarter last year, the company posted $4.95 EPS. The firm's quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 27.39 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, October 26th. Caterpillar's dividend payout ratio is 25.58%.

Wall Street Analyst Weigh In

CAT has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of Caterpillar from $915.00 to $675.00 and set an "equal weight" rating for the company in a research note on Friday, October 30th. President Capital initiated coverage on shares of Caterpillar in a research report on Friday, September 18th. They set a "buy" rating and a $999.00 price target on the stock. Truist Financial reiterated a "buy" rating and issued a $1,027.00 price objective (down from $1,100.00) on shares of Caterpillar in a report on Friday, October 30th. UBS Group lowered their price objective on Caterpillar from $925.00 to $750.00 and set a "neutral" rating for the company in a research report on Monday, October 26th. Finally, Barclays raised their target price on Caterpillar from $800.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $898.25.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Anthropic took over an order for 1.7 gigawatts of Caterpillar gas generators originally placed by OnePWR. The deal highlights demand for power equipment from AI companies and could support Caterpillar’s generator business. Article: Caterpillar Stocks Jump 6.61% as Anthropic Takes Over $3.4 Billion Generator Order
• Positive Sentiment: Caterpillar and Phoenix Service Partners reported an ultra-low-methane emissions technology for large gas-compression systems. It may help customers meet environmental and permitting requirements, though the article does not quantify potential sales. Article: Why Is Caterpillar Pushing Ultra Low Methane Gas Compression?
• Neutral Sentiment: CAT’s rebound accompanied a strong Dow rally, suggesting broad-market strength contributed to the move. Technical analysis said the shares cleared several daily resistance levels but that the broader trend remained weak. Article: Dow's nearly 700-point rally highlighted by gains for Amazon.com Inc., Caterpillar shares Article: Caterpillar stock support and resistance levels after 5.8% rebound
• Negative Sentiment: A recent report noted CAT had fallen about 10% in the prior week despite record quarterly sales and a $78 billion backlog, pointing to lingering concerns about the stock’s momentum. Article: Caterpillar Stock Sinks 10% in a Week Despite Record Backlog
• Negative Sentiment: Coverage of Michael Burry cashing in on Caterpillar put options after a reported fourfold gain highlights that bearish investors had profited from the stock’s recent weakness; it does not establish his current position. Article: Michael Burry Cashes In On Caterpillar Puts After 4X Gain

Insider Buying and Selling at Caterpillar

In other news, Director James C. Fish, Jr. acquired 1,000 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average price of $620.39 per share, for a total transaction of $620,390.00. Following the acquisition, the director owned 4,714 shares of the company's stock, valued at $2,924,518.46. This represents a 26.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph Creed sold 32,401 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the transaction, the chief executive officer directly owned 34,555 shares in the company, valued at approximately $27,954,303.90. The trade was a 48.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.33% of the company's stock.

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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