Caterpillar Inc. $CAT Stock: Migdal Insurance & Financial Holdings Ltd. Boosts Holdings

Key Points

• Migdal Insurance increased its Caterpillar stake by 8,522.9% in the third quarter, adding 104,661 shares to hold 105,889 shares valued at about $85.9 million. Institutional investors own 70.98% of the stock.
• Caterpillar reported quarterly EPS of $7.20, beating estimates of $7.06, while revenue of $20.68 billion slightly missed forecasts; revenue rose 17.3% year over year.
• Analysts have reduced several price targets, but the consensus remains “Moderate Buy” with a target of $898.25. Shares recently traded at $599.80, well below their 52-week high of $1,073.46.

Migdal Insurance & Financial Holdings Ltd. boosted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 8,522.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,889 shares of the industrial products company's stock after buying an additional 104,661 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Caterpillar were worth $85,853,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC lifted its holdings in Caterpillar by 0.7% during the 2nd quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company's stock worth $1,741,000 after buying an additional 11 shares during the last quarter. Inspirion Wealth Advisors LLC increased its holdings in shares of Caterpillar by 1.2% in the 2nd quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company's stock valued at $936,000 after acquiring an additional 11 shares during the last quarter. Bell Bank increased its holdings in shares of Caterpillar by 0.6% in the 2nd quarter. Bell Bank now owns 1,865 shares of the industrial products company's stock valued at $1,986,000 after acquiring an additional 11 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Caterpillar by 0.6% in the 2nd quarter. Harbor Investment Advisory LLC now owns 2,057 shares of the industrial products company's stock valued at $2,190,000 after acquiring an additional 13 shares during the last quarter. Finally, GoalVest Advisory LLC raised its position in shares of Caterpillar by 6.1% during the 2nd quarter. GoalVest Advisory LLC now owns 225 shares of the industrial products company's stock valued at $240,000 after acquiring an additional 13 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Caterpillar Stock Performance

Shares of CAT traded down $5.48 during midday trading on Friday, hitting $599.80. 2,287,211 shares of the stock traded hands, compared to its average volume of 3,857,929. Caterpillar Inc. has a 1-year low of $537.08 and a 1-year high of $1,073.46. The firm has a market capitalization of $274.46 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42. The business's 50 day moving average price is $740.65 and its two-hundred day moving average price is $805.20.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, topping the consensus estimate of $7.06 by $0.14. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. The business had revenue of $20.68 billion during the quarter, compared to analyst estimates of $20.76 billion. During the same quarter in the prior year, the firm earned $4.95 earnings per share. The company's quarterly revenue was up 17.3% on a year-over-year basis. Equities research analysts predict that Caterpillar Inc. will post 27.38 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company 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 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 of this dividend is Monday, October 26th. Caterpillar's payout ratio is presently 25.58%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CAT shares. Sanford C. Bernstein restated a "market perform" rating and set a $749.00 price objective on shares of Caterpillar in a research note on Wednesday, October 14th. Royal Bank Of Canada lowered their target price on shares of Caterpillar from $897.00 to $722.00 and set a "sector perform" rating for the company in a research note on Friday, October 30th. Weiss Ratings cut shares of Caterpillar from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, October 29th. Citigroup dropped their target price on shares of Caterpillar from $950.00 to $800.00 and set a "buy" rating on the stock in a report on Friday, October 30th. Finally, Wells Fargo & Company reduced their price target on shares of Caterpillar from $1,155.00 to $840.00 and set an "overweight" rating on the stock in a research report on Monday, October 26th. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $898.25.

Latest Caterpillar News

These are some of the CAT news items that stood out recently:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Strong orders across construction, mining and power generation offer revenue visibility, while capacity expansion and automation investments could help support growth. CAT's Record $78B Backlog Signals Strength
• Positive Sentiment: Investor Kevin Simpson reportedly bought more CAT shares, a favorable sentiment signal, though the article does not provide the rationale or size of the purchase. Trade tracker: Kevin Simpson buys more Caterpillar
• Neutral Sentiment: A Trefis article examines how much downside may remain, but the provided summary gives no forecast or specific price target. How Much Downside Is Left In Caterpillar Stock?

About Caterpillar

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.

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