Caterpillar Inc. $CAT Shares Sold by Westpac Banking Corp

Key Points

• Westpac Banking Corp cut its Caterpillar stake by 18% in the first quarter, selling 1,300 shares and leaving it with 5,928 shares valued at about $4.2 million.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue of $17.41 billion topping expectations; revenue also rose 22.2% year over year.
• The company raised its quarterly dividend to $1.63 per share, up from $1.51, while analysts remain broadly positive with a consensus Moderate Buy rating and an average target price of $980.57.

Westpac Banking Corp lessened its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 18.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,928 shares of the industrial products company's stock after selling 1,300 shares during the quarter. Westpac Banking Corp's holdings in Caterpillar were worth $4,200,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Lam Group Inc. acquired a new stake in Caterpillar in the 1st quarter valued at approximately $26,000. Torren Management LLC purchased a new position in shares of Caterpillar during the fourth quarter worth $27,000. Frazier Financial Advisors LLC boosted its position in shares of Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock worth $28,000 after buying an additional 33 shares during the period. IFS Advisors LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at $31,000. Finally, Rialto Wealth Management LLC lifted its stake in Caterpillar by 47.4% during the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company's stock worth $32,000 after acquiring an additional 18 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 2.9%

Shares of NYSE:CAT opened at $889.40 on Wednesday. The firm's 50 day moving average price is $929.62 and its 200 day moving average price is $799.21. The stock has a market cap of $409.65 billion, a price-to-earnings ratio of 44.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.57. Caterpillar Inc. has a fifty-two week low of $405.46 and a fifty-two week high of $1,073.46. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The company had revenue of $17.41 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the previous year, the firm earned $4.25 earnings per share. The firm's quarterly revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 24.87 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.7%. This is a boost from Caterpillar's previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Monday, July 20th. Caterpillar's dividend payout ratio is currently 32.45%.

Insider Buying and Selling

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total value of $14,399,860.54. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $907.91, for a total value of $11,444,205.55. Following the transaction, the insider directly owned 49,825 shares of the company's stock, valued at approximately $45,236,615.75. This represents a 20.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 95,773 shares of company stock valued at $87,642,635 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Wall Street sentiment remains constructive, with Caterpillar’s average brokerage recommendation still equivalent to a Buy, supporting investor confidence in the stock. Is It Worth Investing in Caterpillar (CAT) Based on Wall Street's Bullish Views?
• Positive Sentiment: Analysts lifted Caterpillar’s modeled fair value estimate from $913.29 to $970.37, suggesting higher expectations for the stock’s intrinsic value. Caterpillar (CAT) Stock Fair Value Edges Higher After Analysts Lift Targets
• Positive Sentiment: Market coverage noted Caterpillar was among the Dow’s stronger performers, reflecting broader momentum in the shares during Tuesday’s session. Dow Rises 500 Points. It’s Not a Broad Rally.
• Neutral Sentiment: Caterpillar announced it will release second-quarter 2026 financial results on August 4, which puts investors on watch for a potentially important catalyst but does not provide new operating results yet. Caterpillar Inc. to Announce Second-Quarter 2026 Financial Results on August 4
• Neutral Sentiment: Zacks highlighted Caterpillar as one of several dividend-paying industrial names benefiting from AI-related infrastructure spending, a supportive but indirect theme for the stock. These Stocks Offer AI Exposure and Dividend Payouts
• Neutral Sentiment: A local article said Caterpillar began renovations after buying property in Texas, which is operationally interesting but unlikely to move the stock on its own. Caterpillar embarks on renovations after purchasing property in Texas

Analysts Set New Price Targets

CAT has been the subject of several research reports. HSBC lifted their target price on Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. Truist Financial increased their price target on shares of Caterpillar from $1,043.00 to $1,218.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Evercore reissued an "outperform" rating and issued a $1,103.00 price objective on shares of Caterpillar in a research note on Monday, May 11th. Barclays upped their target price on shares of Caterpillar from $700.00 to $800.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Finally, Wells Fargo & Company raised their price target on shares of Caterpillar from $1,050.00 to $1,155.00 and gave the company an "overweight" rating in a research report on Tuesday, June 23rd. Fifteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and an average target price of $980.57.

Caterpillar Company 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.