Caterpillar Inc. $CAT Stock: Assenagon Asset Management S.A. Raises Holdings

Key Points

• Assenagon Asset Management increased its Caterpillar stake by 663.6% in the third quarter, holding 116,512 shares valued at approximately $94.5 million. Institutional investors collectively own 70.98% of the company.
• Analysts maintain a generally positive view, with 15 Buy and 12 Hold ratings and a consensus price target of $967.83, despite several firms recently lowering their targets.
• Caterpillar recently reported stronger-than-expected quarterly results, while upcoming third-quarter results on October 29 and investments in North Carolina manufacturing capacity could serve as key catalysts. The company also declared a $1.63 quarterly dividend, yielding about 0.9%.

Assenagon Asset Management S.A. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 663.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 116,512 shares of the industrial products company's stock after purchasing an additional 101,254 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Caterpillar were worth $94,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Decker Retirement Planning Inc. lifted its stake in Caterpillar by 440.0% in the second quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company's stock valued at $29,000 after buying an additional 22 shares during the last quarter. Matrix Trust Co grew its position in Caterpillar by 93.8% in the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company's stock valued at $33,000 after buying an additional 15 shares in the last quarter. Axiom Investment Management LLC bought a new stake in Caterpillar during the second quarter worth approximately $36,000. Lam Group Inc. bought a new stake in shares of Caterpillar in the 1st quarter worth $26,000. Finally, Tacita Capital Inc acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $47,000. Institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. This represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAT. Citigroup dropped their target price on shares of Caterpillar from $1,100.00 to $950.00 and set a "buy" rating on the stock in a research report on Monday. President Capital initiated coverage on shares of Caterpillar in a research note on Friday, September 18th. They set a "buy" rating and a $999.00 price target on the stock. Truist Financial reduced their target price on Caterpillar from $1,225.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, October 5th. Royal Bank Of Canada lifted their price objective on Caterpillar from $877.00 to $897.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and set a $749.00 target price on shares of Caterpillar in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock 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 will invest up to $10 million in North Carolina workforce training, supporting technicians and manufacturing workers as it expands its Sanford operations. The investment complements a previously announced roughly $1 billion facility investment intended to increase compact-equipment production. Caterpillar Invests in North Carolina's Future Manufacturing Workforce
• Positive Sentiment: The acquisition of the Fabick CAT dealer network could strengthen Caterpillar’s distribution and customer-support footprint, although financial terms and the transaction’s earnings impact were not provided. Caterpillar acquires Fabick Cat dealer network
• Neutral Sentiment: Caterpillar scheduled its third-quarter 2026 results for October 29, giving investors a near-term catalyst to assess demand, margins and guidance. Caterpillar Third-Quarter 2026 Results Announcement
• Neutral Sentiment: Resource Industries President Denise Johnson will retire in February 2027, with Derrick York appointed as her successor effective November 1. Johnson will remain in an advisory role during the transition, limiting immediate disruption concerns. Caterpillar Announces Leadership Transition in Resource Industries
• Negative Sentiment: An analyst downgrade pressured the stock, while Oppenheimer issued a pessimistic forecast. These actions reinforce concerns about Caterpillar’s valuation and future earnings outlook. Caterpillar Shares Down on Analyst Downgrade
• Negative Sentiment: A broader unwind in the AI-related power trade also weighed on Caterpillar, as investors reassessed companies expected to benefit from data-center electricity demand. Comparisons with Generac highlighted differences in backlog, valuation and financial strength. AI Power Trade Unwinds

Caterpillar Stock Down 0.8%

NYSE:CAT opened at $730.01 on Friday. 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 firm has a market capitalization of $335.57 billion, a P/E ratio of 31.41, a P/E/G ratio of 1.27 and a beta of 1.58. The stock's fifty day simple moving average is $812.24 and its 200-day simple moving average is $855.37. Caterpillar Inc. has a 12-month low of $510.21 and a 12-month high of $1,073.46.

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

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, October 26th. This represents a $6.52 annualized dividend and a dividend yield of 0.9%. Caterpillar's payout ratio is currently 28.06%.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.

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