Dock Street Asset Management Inc. Invests $769,000 in Caterpillar Inc. $CAT

Key Points

• Dock Street Asset Management opened a new position in Caterpillar during the first quarter, buying 1,085 shares valued at about $769,000.
• Institutional interest in CAT remains strong, with large holders such as Wellington Management and Bank of America significantly increasing their stakes; overall, 70.98% of shares are held by institutions.
• Caterpillar reported better-than-expected Q1 results, with EPS of $5.54 and revenue of $17.41 billion, and it also raised its quarterly dividend from $1.51 to $1.63 per share.

Dock Street Asset Management Inc. bought a new position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,085 shares of the industrial products company's stock, valued at approximately $769,000.

A number of other institutional investors have also made changes to their positions in CAT. Wellington Management Group LLP lifted its stake in Caterpillar by 3,949.8% during the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company's stock worth $2,494,568,000 after purchasing an additional 5,098,964 shares during the last quarter. Capital International Investors bought a new stake in Caterpillar during the fourth quarter valued at $1,225,317,000. Northwestern Mutual Wealth Management Co. increased its stake in Caterpillar by 573.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company's stock valued at $861,947,000 after purchasing an additional 1,281,087 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Caterpillar by 16.0% during the fourth quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company's stock worth $3,860,457,000 after purchasing an additional 928,974 shares during the period. Finally, Cynosure Group LLC lifted its position in shares of Caterpillar by 8,359.6% in the 4th quarter. Cynosure Group LLC now owns 513,754 shares of the industrial products company's stock worth $294,314,000 after buying an additional 507,681 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAT has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Caterpillar from $930.00 to $989.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Rothschild & Co Redburn raised their target price on shares of Caterpillar from $700.00 to $950.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Wall Street Zen upgraded Caterpillar from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Truist Financial set a $1,043.00 price target on Caterpillar in a research report on Friday, May 1st. Finally, Zacks Research raised Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $939.86.

Caterpillar Stock Up 0.9%

CAT stock opened at $992.95 on Thursday. The stock has a market cap of $457.34 billion, a PE ratio of 49.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.59. The firm's 50-day simple moving average is $887.68 and its 200 day simple moving average is $750.22. Caterpillar Inc. has a fifty-two week low of $369.51 and a fifty-two week high of $1,023.29. 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 posted its 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 net margin of 13.33% and a return on equity of 48.21%. The firm had revenue of $17.41 billion during the quarter, compared to analyst estimates of $16.53 billion. During the same period in the previous year, the business posted $4.25 EPS. Caterpillar's revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts predict that Caterpillar Inc. will post 24.64 EPS for the current year.

Caterpillar Increases Dividend

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

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar was highlighted as a beneficiary of the AI buildout after reports that it will supply engines and turbines for a major Chevron/Microsoft AI data center project, reinforcing demand for its power generation equipment. Caterpillar (CAT) Lands Key Role In Chevron Microsoft AI Data Center Build
• Positive Sentiment: Analysts remain constructive, with Wells Fargo reportedly raising its price recommendation, while other coverage pointed to Caterpillar as a blue-chip dividend name and a stock worth holding amid the industrial rally. Top 5 Blue Chip Stocks with Growing Dividends
• Positive Sentiment: Recent analysis emphasized Caterpillar’s record $63 billion backlog, up 79% year over year, which improves revenue visibility and supports expectations for continued sales growth. CAT's Record Backlog: A Sign of Sustained Demand Strength?
• Neutral Sentiment: Several recent articles compared Caterpillar with other heavy machinery and industrial stocks, but these pieces were largely contextual rather than new catalysts. Unpacking Q1 Earnings: Caterpillar NYSE: CAT In The Context Of Other Heavy Machinery Stocks
• Neutral Sentiment: Coverage noting CAT’s strong one-year run and high valuation suggests investors are also weighing whether much of the good news is already priced in. Caterpillar (CAT) Stock Near $984 After Big Rally Is There Still Upside Potential
• Positive Sentiment: Reports that Caterpillar and partners are advancing battery-electric haul truck testing add to the long-term innovation story in mining and equipment electrification. BHP, Rio Tinto and Caterpillar advance battery-electric haul truck testing

Insiders Place Their Bets

In related news, insider Lange Bob De sold 24,222 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total value of $22,354,968.24. Following the sale, the insider directly owned 86,029 shares in the company, valued at $79,397,884.68. This trade represents a 21.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total value of $11,444,205.55. Following the sale, the insider directly owned 49,825 shares in the company, valued at $45,236,615.75. The trade was a 20.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is owned by company insiders.

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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