Pinnacle Financial Group LLC IL Acquires 1,912 Shares of Caterpillar Inc. $CAT

Pinnacle Financial Group LLC IL boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 160.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,107 shares of the industrial products company’s stock after purchasing an additional 1,912 shares during the quarter. Pinnacle Financial Group LLC IL’s holdings in Caterpillar were worth $2,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Caterpillar during the 2nd quarter valued at $40,457,153,000. State Street Corp boosted its stake 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 worth $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 worth $5,818,150,000. Bank of New York Mellon Corp bought a new stake in Caterpillar in the second quarter valued at $3,192,710,000. Finally, Legal & General Group Plc bought a new stake in Caterpillar in the second quarter valued at $2,783,451,000. 70.98% of the stock is currently owned by institutional investors.

Key Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar’s third-quarter revenue increased 17.3% year over year to $20.68 billion, while adjusted earnings of $7.20 per share exceeded consensus by $0.14. The results reinforce the company’s earnings momentum. CAT Q3 deep dive: capacity expansion and backlog growth shape outlook amid market caution
• Positive Sentiment: Third-quarter order backlog reached a record $78 billion, extending delivery timelines well into the next decade. Power-generation sales to end users rose 75%, helped by demand from data centers, supporting Caterpillar’s longer-term growth outlook. Caterpillar: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Truist reiterated a “Buy” rating. A separate global-bank analysis argued that the market may be overlooking Caterpillar’s backlog and secular data-center power demand, with substantial upside possible if execution remains strong. Caterpillar Crashed By 25% Over 6 Months But This Global Banking Giant Says 85% Gains Will Come
• Neutral Sentiment: Truist reduced its price target to $1,027 from $1,100 while retaining its Buy rating. The lower target reflects greater caution but still implies significant potential appreciation from recent trading levels. Could Caterpillar Actually Climb 65% After Its Earnings Slide? Or Is Truist Totally Wrong?
• Negative Sentiment: Royal Bank of Canada and Citigroup trimmed their Caterpillar price targets, adding to investor concerns that valuation, cyclical demand and execution risks may limit near-term gains. RBC price target reduction Citi price target trim
• Negative Sentiment: Morgan Stanley and JPMorgan issued pessimistic forecasts, while an analyst downgrade recently sent CAT shares lower. The cluster of cautious calls is likely weighing on the stock despite the earnings beat. Morgan Stanley forecast JPMorgan forecast

Insider Buying and Selling

In other news, CEO Joseph E. Creed sold 32,401 shares of the 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 completion of the sale, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CAT. Truist Financial reiterated a “buy” rating and set a $1,027.00 price objective (down from $1,100.00) on shares of Caterpillar in a report on Friday. JPMorgan Chase & Co. decreased their target price on Caterpillar from $1,100.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Friday. DA Davidson decreased their target price on Caterpillar from $882.00 to $685.00 and set a “neutral” rating for the company in a research report on Monday. Morgan Stanley dropped their price target on Caterpillar from $915.00 to $675.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, President Capital began coverage on Caterpillar in a report on Friday, September 18th. They issued a “buy” rating and a $999.00 price target on the stock. Fifteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus price target of $905.75.

Caterpillar Stock Down 0.0%

Shares of NYSE CAT opened at $622.73 on Monday. The stock has a market capitalization of $286.25 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.07 and a beta of 1.65. The company has a 50-day moving average price of $783.25 and a 200-day moving average price of $807.52. Caterpillar Inc. has a 1 year low of $537.08 and a 1 year high of $1,073.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.42 and a quick ratio of 0.88.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, topping the consensus estimate of $7.06 by $0.14. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. The company had revenue of $20.68 billion during the quarter, compared to the consensus estimate of $20.76 billion. During the same period in the previous year, the firm posted $4.95 earnings per share. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 27.75 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, October 26th. Caterpillar’s payout ratio is currently 25.58%.

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.