Baker Avenue Asset Management LP Decreases Stock Holdings in Caterpillar Inc. $CAT

Baker Avenue Asset Management LP decreased its position in Caterpillar Inc. (NYSE:CAT) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 52,113 shares of the industrial products company’s stock after selling 595 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Caterpillar were worth $29,854,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CAT. Illinois Municipal Retirement Fund lifted its holdings in Caterpillar by 7.3% in the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock worth $8,237,000 after buying an additional 1,181 shares during the period. Caprock Group LLC purchased a new stake in Caterpillar in the third quarter worth about $8,893,000. State of New Jersey Common Pension Fund D lifted its holdings in Caterpillar by 2.5% in the third 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 buying an additional 4,010 shares during the period. Juno Financial Group LLC purchased a new stake in Caterpillar in the fourth quarter worth about $877,000. Finally, ARK Investment Management LLC lifted its holdings in Caterpillar by 11.7% in the third quarter. ARK Investment Management LLC now owns 31,144 shares of the industrial products company’s stock worth $14,860,000 after buying an additional 3,268 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CAT shares. CICC Research started coverage on shares of Caterpillar in a report on Friday, February 6th. They issued an “outperform” rating for the company. Truist Financial set a $1,043.00 price objective on shares of Caterpillar in a report on Friday, May 1st. Morgan Stanley set a $915.00 price objective on shares of Caterpillar and gave the stock an “equal weight” rating in a report on Friday, May 1st. Daiwa Securities Group upped their price objective on shares of Caterpillar from $790.00 to $900.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Williams Trading set a $825.00 price objective on shares of Caterpillar in a report on Tuesday, March 10th. Sixteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and a consensus target price of $923.14.

Key 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

Caterpillar Stock Up 0.2%

Shares of Caterpillar stock opened at $910.54 on Thursday. The company has a market cap of $419.38 billion, a price-to-earnings ratio of 45.32, a price-to-earnings-growth ratio of 1.79 and a beta of 1.63. The company’s 50 day moving average is $803.84 and its 200 day moving average is $698.83. Caterpillar Inc. has a twelve month low of $339.50 and a twelve month high of $931.35. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. During the same period in the prior year, the business posted $4.25 EPS. Caterpillar’s revenue was up 22.2% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 24.67 EPS for the current year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were paid 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 dividend yield of 0.7%. Caterpillar’s payout ratio is 30.06%.

Insider Activity at Caterpillar

In related news, insider Anthony D. Fassino sold 16,283 shares of Caterpillar stock in a transaction 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 transaction, the insider owned 46,041 shares in the company, valued at approximately $42,210,388.80. The trade was a 26.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Kaiser sold 5,642 shares of Caterpillar stock in a transaction on Monday, May 4th. The shares were sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the completion of the sale, the insider owned 9,594 shares in the company, 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 98,273 shares of company stock worth $89,439,960 in the last 90 days. Company insiders own 0.33% of the company’s stock.

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.