Conning Inc. Cuts Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Conning Inc. reduced its Caterpillar stake by 29.3% in the fourth quarter, selling 23,901 shares and leaving it with 57,579 shares valued at about $32.99 million.
• Insider selling continued at Caterpillar, including notable sales by Anthony D. Fassino and Bob De Lange; insiders have sold 90,682 shares worth about $81.8 million over the past three months.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue rising 22.2% year over year to $17.42 billion, while analysts now broadly rate the stock a Moderate Buy with an average target price of $923.14.

Conning Inc. cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 29.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,579 shares of the industrial products company's stock after selling 23,901 shares during the quarter. Conning Inc.'s holdings in Caterpillar were worth $32,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Pacific Point Advisors LLC purchased a new position in shares of Caterpillar in the 4th quarter worth about $579,000. Brighton Jones LLC lifted its position in Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after buying an additional 2,519 shares during the last quarter. United Bank boosted its stake in Caterpillar by 108.5% in the second quarter. United Bank now owns 4,083 shares of the industrial products company's stock worth $1,585,000 after buying an additional 2,125 shares in the last quarter. Schnieders Capital Management LLC. grew its position in Caterpillar by 3.9% during the second quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company's stock valued at $3,551,000 after acquiring an additional 347 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Caterpillar by 6.5% during the second quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company's stock worth $222,120,000 after acquiring an additional 34,846 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In other news, insider Anthony D. Fassino sold 16,283 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total value of $14,928,254.40. Following the completion of the sale, the insider directly owned 46,041 shares of the company's stock, valued at approximately $42,210,388.80. This trade represents a 26.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lange Bob De sold 24,222 shares of Caterpillar stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the sale, the insider directly owned 86,029 shares in the company, valued at $79,397,884.68. The trade was a 21.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 90,682 shares of company stock valued at $81,815,568 over the last three months. Insiders own 0.33% of the company's stock.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Rothschild & Co Redburn raised its price target on Caterpillar to $950 from $700, even while keeping a neutral rating, suggesting the stock’s recent rally may still have room to run. Rothschild & Co Redburn price target update
• Positive Sentiment: Jim Cramer reiterated a bullish view on Caterpillar, calling it a buy and pointing to oil and gas, infrastructure, and AI data-center power demand as key tailwinds. Jim Cramer Says Caterpillar Is a Buy
• Positive Sentiment: Recent coverage highlighted Caterpillar’s role in Saudi Arabia’s construction equipment market, which is expected to grow steadily on the back of Vision 2030 infrastructure spending. Saudi Arabia Construction Equipment Industry Research 2026-2031 Featuring Caterpillar
• Neutral Sentiment: Two Caterpillar insiders disclosed stock sales, including a larger sale by Denise C. Johnson and a smaller sale by William E. Schaupp. While not unusual, insider selling can create some caution. Denise C. Johnson insider trade filing
• Negative Sentiment: Anthony Fassino also sold a notable block of shares earlier in the week, which may be viewed as a mild negative signal despite his remaining ownership stake. Anthony Fassino Sells 16,283 Shares of Caterpillar NYSE: CAT Stock

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $918.99 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. The company has a 50-day moving average price of $772.09 and a 200-day moving average price of $678.58. The company has a market cap of $423.28 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 1.81 and a beta of 1.63. Caterpillar Inc. has a 12 month low of $336.24 and a 12 month high of $931.35.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.42 billion for the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the previous year, the business earned $4.25 EPS. Caterpillar's revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts anticipate that Caterpillar Inc. will post 24.21 EPS for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, April 20th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, April 20th. Caterpillar's dividend payout ratio is currently 30.06%.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of research reports. UBS Group reaffirmed a "neutral" rating and issued a $677.00 price objective on shares of Caterpillar in a research note on Monday, February 2nd. Wells Fargo & Company lifted their target price on shares of Caterpillar from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Williams Trading set a $825.00 price target on shares of Caterpillar in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Caterpillar in a research note on Friday, May 8th. Finally, Wolfe Research boosted their target price on Caterpillar from $670.00 to $750.00 and gave the company an "outperform" rating in a research note on Tuesday, March 31st. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $923.14.

About Caterpillar

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.

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