Gabelli Funds LLC Decreases Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Gabelli Funds LLC trimmed its Caterpillar stake by 3.0% in the fourth quarter, leaving it with 98,140 shares valued at about $56.2 million.
• Insider selling has been notable, with CFO Andrew R. J. Bonfield and insider Denise C. Johnson both selling shares recently; insiders have sold 103,287 shares over the past three months.
• Caterpillar reported strong quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $1.51 per share, payable May 19.

Gabelli Funds LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,140 shares of the industrial products company's stock after selling 3,012 shares during the quarter. Gabelli Funds LLC's holdings in Caterpillar were worth $56,221,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CAT. Wellington Management Group LLP increased its holdings in shares of 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 valued at $2,494,568,000 after acquiring an additional 5,098,964 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Caterpillar by 1,851.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company's stock valued at $873,382,000 after acquiring an additional 1,736,631 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 acquiring an additional 1,281,087 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Caterpillar by 20.7% during the third quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company's stock valued at $1,695,757,000 after acquiring an additional 609,023 shares in the last quarter. Finally, Amundi increased its holdings in shares of Caterpillar by 24.3% during the third quarter. Amundi now owns 2,375,710 shares of the industrial products company's stock valued at $1,176,870,000 after acquiring an additional 464,036 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 15,674 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the sale, the chief financial officer owned 52,935 shares of the company's stock, valued at $48,631,913.85. This represents a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a 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 stock was sold at an average price of $907.91, for a total value of $11,444,205.55. Following the transaction, the insider owned 49,825 shares in the company, valued at approximately $45,236,615.75. This represents a 20.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 103,287 shares of company stock valued at $93,259,774. 0.33% of the stock is owned by company insiders.

Caterpillar Price Performance

Caterpillar stock opened at $888.90 on Monday. Caterpillar Inc. has a 52-week low of $336.24 and a 52-week high of $931.35. The firm has a market capitalization of $409.42 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 1.77 and a beta of 1.63. The company has a fifty day simple moving average of $775.21 and a 200-day simple moving average of $681.13. 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 released its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. During the same quarter in the prior year, the firm earned $4.25 earnings per share. The company's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities analysts anticipate that Caterpillar Inc. will post 24.48 EPS for the current fiscal year.

Caterpillar Announces Dividend

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

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Rothschild & Co Redburn lifted its price target on Caterpillar to $950 from $700, signaling continued upside potential despite keeping a neutral rating. Rothschild & Co Redburn adjusts price target on Caterpillar to $950 from $700, maintains neutral rating
• Positive Sentiment: Commentary from Jim Cramer called Caterpillar “a buy,” citing oil and gas exposure, infrastructure spending, and AI data-center power demand as potential tailwinds. Jim Cramer Says Caterpillar Is a Buy
• Positive Sentiment: Caterpillar said it is hiring 600 workers at its Sanford, North Carolina plant to support compact track loader production, suggesting strong demand and added manufacturing activity. Caterpillar hiring 600 jobs at Sanford plant
• Positive Sentiment: Industry research on Saudi Arabia’s construction equipment market pointed to Caterpillar as a key player in a market expected to grow steadily through 2030, supported by large infrastructure projects. Saudi Arabia Construction Equipment Industry Research 2026-2031 Featuring Caterpillar

Wall Street Analysts Forecast Growth

CAT has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of Caterpillar from $905.00 to $1,020.00 and gave the company a "buy" rating in a report on Friday, May 1st. Evercore restated an "outperform" rating and set a $1,103.00 price objective on shares of Caterpillar in a report on Monday, May 11th. CICC Research started coverage on shares of Caterpillar in a report on Friday, February 6th. They issued an "outperform" rating on the stock. Wolfe Research increased their price target on shares of Caterpillar from $670.00 to $750.00 and gave the stock an "outperform" rating in a report on Tuesday, March 31st. Finally, DA Davidson increased their price target on shares of Caterpillar from $650.00 to $845.00 and gave the stock a "neutral" rating in a report on Monday, May 4th. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $923.14.

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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