Harbour Investments Inc. Boosts Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Harbour Investments Inc. increased its Caterpillar stake by 33.4% in the fourth quarter, buying 2,679 more shares and bringing its total to 10,702 shares worth about $6.13 million.
• Institutional ownership remains strong, with hedge funds and other investors holding 70.98% of Caterpillar’s stock, even as some insiders have recently sold shares.
• Caterpillar reported solid results and lifted outlook sentiment: quarterly EPS of $5.54 beat estimates, revenue rose 22.2% year over year, and analysts currently rate the stock a “Moderate Buy” with an average target price of $923.14.

Harbour Investments Inc. lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 33.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,702 shares of the industrial products company's stock after purchasing an additional 2,679 shares during the period. Harbour Investments Inc.'s holdings in Caterpillar were worth $6,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Illinois Municipal Retirement Fund lifted its holdings in Caterpillar by 7.3% during the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company's stock valued at $8,237,000 after purchasing an additional 1,181 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Caterpillar during the third quarter worth about $8,893,000. State of New Jersey Common Pension Fund D raised its position in shares of Caterpillar by 2.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company's stock worth $79,053,000 after purchasing an additional 4,010 shares during the last quarter. Juno Financial Group LLC purchased a new position in Caterpillar in the 4th quarter valued at about $877,000. Finally, ARK Investment Management LLC lifted its stake in Caterpillar by 11.7% in the 3rd quarter. ARK Investment Management LLC now owns 31,144 shares of the industrial products company's stock valued at $14,860,000 after buying an additional 3,268 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Activity

In other news, insider Anthony D. Fassino sold 16,283 shares of the firm's stock in a transaction that occurred on 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 $42,210,388.80. This trade represents a 26.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction that occurred 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 sale, the insider directly 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 SEC filing for this sale provides additional information. Insiders sold 98,273 shares of company stock valued at $89,439,960 in the last quarter. Insiders own 0.33% of the company's stock.

Caterpillar Price Performance

NYSE:CAT opened at $909.25 on Wednesday. Caterpillar Inc. has a one year low of $339.50 and a one year high of $931.35. The stock has a market cap of $418.79 billion, a PE ratio of 45.26, a P/E/G ratio of 1.74 and a beta of 1.63. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The stock has a 50 day moving average price of $799.63 and a 200 day moving average price of $696.43.

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 for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same quarter in the previous year, the company posted $4.25 earnings per share. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts expect that Caterpillar Inc. will post 24.67 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors 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 dividend yield of 0.7%. Caterpillar's dividend payout ratio is currently 30.06%.

Wall Street Analyst Weigh In

CAT has been the subject of several research reports. DA Davidson boosted their price objective on Caterpillar from $650.00 to $845.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Argus boosted their price target on Caterpillar from $820.00 to $990.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Sanford C. Bernstein raised their price objective on Caterpillar from $769.00 to $879.00 and gave the company a "market perform" rating in a report on Friday, May 1st. Rothschild & Co Redburn lifted their target price on shares of Caterpillar from $700.00 to $950.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Finally, HSBC upped their target price on shares of Caterpillar from $850.00 to $1,100.00 in a report on Tuesday, May 5th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Caterpillar presently has an average rating of "Moderate Buy" and an average target price of $923.14.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Market coverage noted that Caterpillar flashed a buy signal as the S&P 500, Nasdaq and Russell 2000 hit new highs, reflecting broad strength in industrial and AI-related names. Dow Jones Futures Rise After S&P 500, Nasdaq Hit Highs; 5 AI Stocks In Buy Areas
• Positive Sentiment: Investors are focusing on a “hidden AI revenue stream” in Caterpillar’s financials: about $10.2 billion in generator sales to data centers last year, which supports the idea that CAT benefits from AI buildout even though it is not a pure-play AI stock. A $10.2 Billion Hidden AI Revenue Stream Most Investors Are Missing
• Neutral Sentiment: Another article discussed Caterpillar in the context of the Iran war and whether it is a buy, sell or hold, but it did not add a clear new catalyst for the stock. Is Caterpillar a Buy, Sell, or Hold Amid the Iran War?
• Neutral Sentiment: Clinch Resources’ purchase of a Caterpillar highwall miner is a small equipment-order headline that may support sentiment around CAT’s mining product line, but it is not likely to move the stock on its own. Clinch Resources acquires first Caterpillar highwall miner for West Virginia met coal operation

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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