North Dakota State Investment Board Takes Position in Caterpillar Inc. $CAT

Key Points

• North Dakota State Investment Board initiated a new position in Caterpillar during the fourth quarter, buying 15,875 shares valued at about $9.1 million. The filing also notes that institutional investors and hedge funds own roughly 70.98% of the stock.
• Caterpillar reported strong quarterly results, with earnings of $5.54 per share and revenue of $17.42 billion, both beating Wall Street estimates. Revenue rose 22.2% year over year, and analysts now expect full-year EPS of 24.48.
• Analyst sentiment remains positive, with multiple firms raising price targets and the consensus rating sitting at “Moderate Buy” with a $923.14 target. The company also announced a quarterly dividend of $1.51 per share, while insiders recently sold shares worth more than $93 million over the last 90 days.

North Dakota State Investment Board purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,875 shares of the industrial products company's stock, valued at approximately $9,094,000.

A number of other hedge funds have also recently made changes to their positions in CAT. Torren Management LLC acquired a new stake in shares of Caterpillar during the fourth quarter valued at about $27,000. IFS Advisors LLC acquired a new position in shares of Caterpillar in the fourth quarter worth approximately $31,000. Rialto Wealth Management LLC lifted its stake in shares of Caterpillar by 47.4% in the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company's stock worth $32,000 after acquiring an additional 18 shares during the period. Noble Wealth Management PBC lifted its stake in shares of Caterpillar by 140.0% in the fourth quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company's stock worth $34,000 after acquiring an additional 35 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Caterpillar in the third quarter worth approximately $35,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America lifted their price objective on Caterpillar from $930.00 to $989.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Jefferies Financial Group lifted their price objective on Caterpillar from $900.00 to $1,045.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. CICC Research assumed coverage on Caterpillar in a research note on Friday, February 6th. They issued an "outperform" rating on the stock. Truist Financial set a $1,043.00 price objective on Caterpillar in a research note on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price objective on Caterpillar from $587.00 to $658.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $923.14.

Caterpillar Trading Up 0.1%

Shares of CAT stock opened at $888.90 on Monday. The company has a market cap of $409.42 billion, a P/E ratio of 44.25, a PEG ratio of 1.77 and a beta of 1.63. The stock has a 50 day simple moving average of $775.21 and a two-hundred day simple moving average of $681.13. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. Caterpillar Inc. has a fifty-two week low of $336.24 and a fifty-two week high of $931.35.

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 for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. The business had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm's revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.25 earnings per share. Research analysts forecast that Caterpillar Inc. will post 24.48 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed 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 is Monday, April 20th. This represents a $6.04 annualized dividend and a dividend yield of 0.7%. Caterpillar's payout ratio is currently 30.06%.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 15,674 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was 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 in the company, valued at $48,631,913.85. The trade was a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lange Bob De sold 24,222 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total value of $22,354,968.24. Following the sale, the insider owned 86,029 shares of the company's stock, valued at approximately $79,397,884.68. This represents a 21.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 103,287 shares of company stock valued at $93,259,774. Corporate insiders own 0.33% of the company's stock.

Key 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

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.

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