Conning Inc. Trims Stock Position in Caterpillar Inc. $CAT

Key Points

• Conning Inc. reduced its Caterpillar stake by 7.9% in the first quarter, selling 4,551 shares and leaving it with 53,028 shares worth about $37.6 million. Caterpillar still ranked as Conning’s 13th largest holding.
• Insiders have been selling shares, including Anthony D. Fassino and Jason Kaiser, with total insider sales of 95,773 shares valued at about $87.6 million last quarter. Corporate insiders now own just 0.33% of the stock.
• Caterpillar reported strong quarterly results and raised its dividend, beating EPS and revenue estimates while increasing its quarterly payout to $1.63 per share. Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $970.81.

Conning Inc. lessened its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,028 shares of the industrial products company's stock after selling 4,551 shares during the quarter. Caterpillar comprises approximately 1.2% of Conning Inc.'s portfolio, making the stock its 13th largest position. Conning Inc.'s holdings in Caterpillar were worth $37,568,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Petix & Botte Co lifted its stake in shares of Caterpillar by 4.7% in the 1st quarter. Petix & Botte Co now owns 1,374 shares of the industrial products company's stock valued at $973,000 after purchasing an additional 62 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Caterpillar by 0.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 178,760 shares of the industrial products company's stock worth $126,644,000 after purchasing an additional 1,519 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its holdings in Caterpillar by 2.5% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 1,731 shares of the industrial products company's stock valued at $1,226,000 after buying an additional 42 shares during the period. Cedar Mountain Advisors LLC raised its holdings in Caterpillar by 82.1% in the 1st quarter. Cedar Mountain Advisors LLC now owns 51 shares of the industrial products company's stock valued at $36,000 after buying an additional 23 shares during the period. Finally, Carmel Capital Partners LLC purchased a new position in Caterpillar during the first quarter worth about $227,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Anthony D. Fassino sold 16,283 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the sale, the insider owned 46,041 shares in the company, valued at approximately $42,210,388.80. This represents a 26.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 5,642 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $883.03, for a total value of $4,982,055.26. Following the sale, the insider directly owned 9,594 shares of the company's stock, valued at $8,471,789.82. The trade was a 37.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 95,773 shares of company stock valued at $87,642,635 in the last quarter. Corporate insiders own 0.33% of the company's stock.

Caterpillar Trading Up 1.5%

CAT opened at $952.42 on Friday. The business's 50-day simple moving average is $930.83 and its 200-day simple moving average is $782.09. The company has a market cap of $438.68 billion, a P/E ratio of 47.41, a PEG ratio of 1.85 and a beta of 1.57. Caterpillar Inc. has a one year low of $401.70 and a one year high of $1,073.46. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, beating 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 firm had revenue of $17.41 billion for the quarter, compared to the consensus estimate of $16.53 billion. During the same period last year, the firm posted $4.25 EPS. The company's revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts expect that Caterpillar Inc. will post 24.71 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, July 20th. This is an increase from Caterpillar's previous quarterly dividend of $1.51. Caterpillar's payout ratio is 30.06%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CAT. Argus increased their price objective on shares of Caterpillar from $820.00 to $990.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Truist Financial upped their price target on Caterpillar from $1,043.00 to $1,218.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Evercore restated an "outperform" rating and set a $1,103.00 price target on shares of Caterpillar in a research report on Monday, May 11th. Zacks Research raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 8th. Finally, Jefferies Financial Group increased their target price on Caterpillar from $900.00 to $1,045.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $970.81.

Trending Headlines about Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar is being highlighted as a way to gain exposure to the AI buildout, especially through demand tied to data center construction, which is helping bolster investor optimism. These Dividend Paying Stocks Offer Strong Exposure to AI Trends
• Positive Sentiment: Analyst/commentary pieces continue to frame Caterpillar as a stock with strong momentum and relative outperformance, supporting the bullish case for CAT. CAT Outperforms NVDA & Tech Sector, AI Data Center Demand Powers Growth
• Positive Sentiment: News that Caterpillar is opening an engineering design centre adds to the company’s investment and expansion story, which can be supportive for long-term growth expectations. Caterpillar Inc. opens engineering design centre
• Positive Sentiment: Reports of a multimillion-dollar global headquarters expansion in Las Colinas suggest continued capital investment and confidence in the business outlook. Caterpillar digs into new $34M HQ in Las Colinas
• Neutral Sentiment: Market commentary notes that Caterpillar remains a popular industrial stock to watch, but these list-style articles do not provide a clear new catalyst. Industrial Stocks To Consider - July 9th
• Neutral Sentiment: Another feature discusses Caterpillar among “calls of the day,” indicating ongoing trader attention rather than a specific fundamental update. Calls of the day: AbbVie, Caterpillar, Marriott, Lamar Advertising and PepsiCo
• Negative Sentiment: Some coverage says CAT has dipped while the broader market rose, and other commentary warns the stock may be losing momentum as investors weigh valuation, tariffs, and execution risks. Caterpillar (CAT) Stock Dips While Market Gains: Key Facts
• Negative Sentiment: One bearish note suggests the AI rally may be fading, with valuation concerns making investors more cautious about further upside. CAT Stock Heads For Second Weekly Loss: Is Caterpillar's AI Rally Fading?

Caterpillar 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.

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