Geneva Partners LLC Boosts Stake in Caterpillar Inc. $CAT

Key Points

• Geneva Partners LLC significantly increased its Caterpillar stake by 1,406% in the first quarter, ending with 10,783 shares valued at about $7.9 million.
• Caterpillar beat earnings expectations in its latest quarter, reporting EPS of $5.54 on revenue of $17.41 billion, while revenue rose 22.2% year over year.
• The company also raised its quarterly dividend to $1.63 per share, and Wall Street remains largely positive, with a consensus rating of “Moderate Buy” and an average target price of $949.41.

Geneva Partners LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1,406.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,783 shares of the industrial products company's stock after acquiring an additional 10,067 shares during the quarter. Caterpillar makes up approximately 3.8% of Geneva Partners LLC's portfolio, making the stock its 8th biggest position. Geneva Partners LLC's holdings in Caterpillar were worth $7,869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Pacific Point Advisors LLC bought a new stake in Caterpillar during the 4th quarter worth approximately $579,000. Brighton Jones LLC raised its stake in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after acquiring an additional 2,519 shares during the last quarter. United Bank lifted its holdings in shares of Caterpillar by 108.5% during the second quarter. United Bank now owns 4,083 shares of the industrial products company's stock worth $1,585,000 after purchasing an additional 2,125 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Caterpillar by 3.9% in the second quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company's stock worth $3,551,000 after purchasing an additional 347 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Caterpillar by 6.5% in the second quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company's stock worth $222,120,000 after purchasing an additional 34,846 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Denise C. Johnson sold 12,605 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the sale, the insider owned 49,825 shares in the company, valued at approximately $45,236,615.75. The trade was a 20.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 360 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total transaction of $326,160.00. Following the transaction, the chief accounting officer owned 530 shares in the company, valued at approximately $480,180. The trade was a 40.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 95,773 shares of company stock valued at $87,642,635. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their price target on Caterpillar from $1,050.00 to $1,155.00 and gave the company an "overweight" rating in a research note on Tuesday, June 23rd. Rothschild & Co Redburn upped their target price on Caterpillar from $700.00 to $950.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Caterpillar from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Jefferies Financial Group boosted their price target on shares of Caterpillar from $900.00 to $1,045.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, Daiwa Securities Group upped their price objective on shares of Caterpillar from $790.00 to $900.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. One research 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 company's stock. According to MarketBeat, Caterpillar has a consensus rating of "Moderate Buy" and an average target price of $949.41.

Caterpillar Trading Down 3.0%

NYSE:CAT opened at $940.64 on Wednesday. Caterpillar Inc. has a 12 month low of $391.52 and a 12 month high of $1,073.46. 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 stock has a market capitalization of $433.25 billion, a price-to-earnings ratio of 46.82, a PEG ratio of 1.91 and a beta of 1.57. The firm has a fifty day simple moving average of $923.21 and a two-hundred day simple moving average of $775.64.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $17.41 billion for the quarter, compared to analysts' expectations of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The business's revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.25 EPS. Analysts expect that Caterpillar Inc. will post 24.71 EPS for the current fiscal year.

Caterpillar Increases Dividend

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

Key Headlines Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar announced it acquired Skycatch, a provider of spatial data capture and AI tools for mining, expanding its mining technology platform after the recent RPMGlobal deal. The move should strengthen Caterpillar’s data-driven offerings and support future growth in mining solutions. Caterpillar expands mining technology capabilities with Skycatch acquisition
• Positive Sentiment: Analysts highlighted Caterpillar’s strong earnings surprise history and said the company looks positioned to beat estimates again, which can help support investor confidence in the stock. Why Caterpillar (CAT) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Truist raised its price target on Caterpillar and kept a Buy rating, signaling continued Wall Street optimism around the company’s earnings and valuation. Truist Remains Bullish on Caterpillar Inc. (CAT)
• Neutral Sentiment: Multiple articles compared Caterpillar with Terex on valuation, but this is more of a stock-screening discussion than a direct catalyst for CAT shares. TEX vs. CAT: Which Stock Is the Better Value Option?
• Negative Sentiment: Despite the acquisition being strategically positive, the market appears to be reacting cautiously and selling the stock on the announcement, suggesting investors are focusing on near-term deal concerns or broader profit-taking. Caterpillar Acquires Skycatch to Expand Mining Technology Capabilities

Caterpillar Company 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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.