Geode Capital Management LLC Raises Position in Caterpillar Inc. $CAT

Key Points

• Geode Capital Management increased its Caterpillar stake by 0.9% in the fourth quarter, adding 94,524 shares and bringing its total holding to 10.61 million shares worth about $6.07 billion.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue of $17.42 billion topping forecasts; revenue also rose 22.2% year over year.
• The stock has drawn broadly positive sentiment from analysts, with a Moderate Buy consensus and a $923.14 average price target, while the company also recently paid a $1.51 quarterly dividend.

Geode Capital Management LLC boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,610,182 shares of the industrial products company's stock after purchasing an additional 94,524 shares during the period. Geode Capital Management LLC owned approximately 2.27% of Caterpillar worth $6,072,572,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CAT. Vanguard Group Inc. grew its stake in shares of Caterpillar by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company's stock valued at $26,572,681,000 after acquiring an additional 442,164 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Caterpillar by 0.6% during the fourth quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company's stock valued at $5,438,408,000 after acquiring an additional 54,069 shares in the last quarter. Wellington Management Group LLP grew its stake 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. Bank of New York Mellon Corp lifted its position 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 worth $1,695,757,000 after purchasing an additional 609,023 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Caterpillar by 2.2% during the third quarter. Legal & General Group Plc now owns 2,802,068 shares of the industrial products company's stock worth $1,337,007,000 after purchasing an additional 58,993 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $910.54 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm's 50-day moving average price is $803.84 and its two-hundred day moving average price is $698.83. Caterpillar Inc. has a 52-week low of $339.50 and a 52-week high of $931.35. The stock has a market capitalization of $419.38 billion, a P/E ratio of 45.32, a P/E/G ratio of 1.79 and a beta of 1.63.

Caterpillar (NYSE:CAT - Get Free Report) last issued 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 firm had revenue of $17.42 billion for the quarter, compared to analysts' expectations of $16.53 billion. During the same quarter last year, the company posted $4.25 earnings per share. Caterpillar's revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts forecast that Caterpillar Inc. will post 24.67 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Monday, April 20th were issued a $1.51 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $6.04 dividend on an annualized basis and a yield of 0.7%. Caterpillar's dividend payout ratio (DPR) is currently 30.06%.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar was highlighted as flashing a buy signal as the S&P 500 and Nasdaq hit new highs, suggesting technical momentum may be supporting the stock. Dow Jones Futures Rise After S&P 500, Nasdaq Hit Highs; 5 AI Stocks In Buy Areas
• Positive Sentiment: Investors are also focusing on Caterpillar’s exposure to data-center power demand, with commentary pointing to about $10.2 billion in generator sales last year as a “hidden AI revenue stream.” A $10.2 Billion Hidden AI Revenue Stream Most Investors Are Missing
• Positive Sentiment: A new bill aimed at classifying municipal snow-removal machinery as emergency vehicles could modestly support future demand for Caterpillar snow-removal equipment from local governments. New Bill: Representative Jack Bergman introduces H.R. 8782: Protecting Lifesaving Operations during Winter Storms Act
• Neutral Sentiment: Additional articles discussed Caterpillar in broader market and industrial-stock roundups, but did not add new company-specific catalysts. Best Construction Stocks To Follow Today - May 23rd

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CAT shares. Royal Bank Of Canada increased their price target on shares of Caterpillar from $587.00 to $658.00 and gave the stock a "sector perform" rating in a research report on Friday, January 30th. Wells Fargo & Company increased their price target 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. 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 research report on Tuesday, March 31st. Jefferies Financial Group increased 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, Rothschild & Co Redburn increased their price target on shares of Caterpillar from $700.00 to $950.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $923.14.

Insider Transactions at Caterpillar

In other news, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the sale, the insider owned 49,825 shares of the company's stock, valued at approximately $45,236,615.75. The trade was a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jason Kaiser sold 5,642 shares of the business's 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 transaction, the insider owned 9,594 shares of the company's stock, valued at approximately $8,471,789.82. This represents a 37.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 98,273 shares of company stock valued at $89,439,960 over the last ninety days. Insiders own 0.33% of the company's stock.

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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