Sigma Investment Counselors Inc. Purchases 1,786 Shares of Caterpillar Inc. $CAT

Key Points

• Sigma Investment Counselors increased its Caterpillar stake by 9.6% in the third quarter, purchasing 1,786 additional shares and bringing its holdings to 20,333 shares valued at approximately $16.5 million.
• Caterpillar reported strong quarterly results, with EPS of $8.17 and revenue of $20.54 billion, both above analyst expectations. The company also declared a quarterly dividend of $1.63 per share, representing a 0.9% yield.
• Analysts maintain a generally positive outlook, with Caterpillar receiving a “Moderate Buy” consensus rating and an average price target of $947.42, although CEO Joseph Creed recently sold nearly half of his direct holdings.

Sigma Investment Counselors Inc. boosted its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,333 shares of the industrial products company's stock after purchasing an additional 1,786 shares during the period. Caterpillar accounts for approximately 0.8% of Sigma Investment Counselors Inc.'s portfolio, making the stock its 29th biggest position. Sigma Investment Counselors Inc.'s holdings in Caterpillar were worth $16,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAT. BlackRock Inc. bought a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $40,457,153,000. State Street Corp raised its position in Caterpillar by 4.0% during the second quarter. State Street Corp now owns 36,276,960 shares of the industrial products company's stock valued at $37,120,529,000 after acquiring an additional 1,396,356 shares in the last quarter. Bank of America Corp DE acquired a new stake in Caterpillar in the second quarter valued at approximately $5,818,150,000. Bank of New York Mellon Corp acquired a new stake in Caterpillar in the second quarter valued at approximately $3,192,710,000. Finally, Legal & General Group Plc bought a new stake in Caterpillar in the second quarter worth approximately $2,783,451,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $808.98, for a total value of $26,211,760.98. Following the transaction, the chief executive officer directly owned 34,555 shares of the company's stock, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Caterpillar Price Performance

Shares of CAT opened at $714.14 on Wednesday. The company has a market capitalization of $328.27 billion, a PE ratio of 30.73 and a beta of 1.58. Caterpillar Inc. has a one year low of $521.67 and a one year high of $1,073.46. The company's fifty day moving average price is $792.99 and its 200 day moving average price is $806.88.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. The firm's revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the company earned $4.72 earnings per share. Analysts anticipate that Caterpillar Inc. will post 27.74 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar's payout ratio is currently 28.06%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAT. Wells Fargo & Company dropped their price target on shares of Caterpillar from $1,155.00 to $840.00 and set an "overweight" rating on the stock in a research note on Monday. Wall Street Zen raised shares of Caterpillar from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Freedom Broker upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $980.00 price objective for the company in a report on Thursday, September 10th. DA Davidson increased their target price on shares of Caterpillar from $845.00 to $882.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Finally, Needham & Company LLC set a $980.00 target price on Caterpillar in a report on Thursday, September 10th. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $947.42.

Trending Headlines about Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Strong backlog and AI-related demand: Caterpillar’s power-generation equipment is benefiting from data-center and artificial-intelligence infrastructure spending. The company reportedly has a record $72 billion backlog, with orders extending through 2030, supporting a favorable long-term growth outlook. Learn Why The Bull Case For Caterpillar Could Change Following AI Power Demand
• Positive Sentiment: Upcoming earnings catalyst: Analysts expect another quarter of revenue and earnings growth when Caterpillar reports on October 29. A recent estimate increase from Erste Group adds to the positive pre-earnings sentiment. Erste Group Bank Raises Earnings Estimates for Caterpillar
• Positive Sentiment: Shareholder returns and capacity expansion: Caterpillar confirmed a $1.63 quarterly dividend payable November 19 and is investing approximately $1 billion in North Carolina to expand compact-equipment manufacturing. These developments reinforce the company’s income appeal and capacity to serve demand. Caterpillar vs. Deere: Which Heavy Equipment Dividend Is Growing Faster?
• Neutral Sentiment: Leadership transition: Resource Industries head Denise Johnson plans to retire in early 2027, with Derrick York named as her successor. The planned handoff provides continuity, although investors may monitor execution in the mining business. Caterpillar Taps Derrick York as Denise Johnson Sets Early 2027 Retirement
• Negative Sentiment: Tariff and legal risks: Rising tariffs could pressure Caterpillar’s margins, while the company is pursuing a significant legal challenge involving the United Kingdom’s post-Brexit tariffs. The outcome could affect costs and trade flexibility. Caterpillar Mounts Landmark Legal Test of UK’s Post-Brexit Tariffs

Caterpillar Company Profile

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.

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