Caterpillar Inc. $CAT Shares Sold by Alta Advisers Ltd

Alta Advisers Ltd trimmed its stake in shares of Caterpillar Inc. (NYSE:CAT) by 25.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,791 shares of the industrial products company’s stock after selling 600 shares during the quarter. Alta Advisers Ltd’s holdings in Caterpillar were worth $1,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Caterpillar by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company’s stock worth $26,572,681,000 after acquiring an additional 442,164 shares during the period. Fisher Asset Management LLC grew its holdings in Caterpillar by 0.6% in 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 purchasing an additional 54,069 shares during the period. Wellington Management Group LLP grew its holdings in Caterpillar by 3,949.8% in 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 purchasing an additional 5,098,964 shares during the period. Bank of New York Mellon Corp grew its holdings in Caterpillar by 20.7% in the third quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company’s stock valued at $1,695,757,000 after purchasing an additional 609,023 shares during the period. Finally, Legal & General Group Plc grew its holdings in Caterpillar by 2.2% in the third quarter. Legal & General Group Plc now owns 2,802,068 shares of the industrial products company’s stock valued at $1,337,007,000 after purchasing an additional 58,993 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Lange Bob De sold 24,222 shares of Caterpillar stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the transaction, the insider owned 86,029 shares in the company, valued at approximately $79,397,884.68. This trade represents a 21.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jason Kaiser sold 5,642 shares of Caterpillar 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 in the company, valued at approximately $8,471,789.82. The trade was a 37.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,273 shares of company stock valued at $89,439,960 in the last 90 days. 0.33% of the stock is owned by insiders.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $909.25 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. The business’s 50 day moving average price is $799.63 and its 200-day moving average price is $696.43. The firm has a market capitalization of $418.79 billion, a PE ratio of 45.26, a P/E/G ratio of 1.74 and a beta of 1.63. Caterpillar Inc. has a 1 year low of $339.50 and a 1 year high of $931.35.

Caterpillar (NYSE:CAT) last issued its quarterly 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. The firm had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business’s revenue 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. As a group, equities research analysts expect that Caterpillar Inc. will post 24.67 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were given a dividend of $1.51 per share. The ex-dividend date 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 presently 30.06%.

Analyst Ratings Changes

Several brokerages have commented on CAT. Royal Bank Of Canada raised their price objective on Caterpillar from $587.00 to $658.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. UBS Group reissued a “neutral” rating and issued a $677.00 price objective on shares of Caterpillar in a report on Monday, February 2nd. Jefferies Financial Group raised their price objective on Caterpillar from $900.00 to $1,045.00 and gave the company a “buy” rating in a report on Friday, May 1st. Morgan Stanley set a $915.00 price objective on Caterpillar and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Williams Trading set a $825.00 price target on Caterpillar in a research note on Tuesday, March 10th. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $923.14.

Trending Headlines about Caterpillar

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

About Caterpillar

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.