Caterpillar Inc. $CAT Stock: Simplicity Wealth LLC Boosts Holdings

Simplicity Wealth LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 10.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 30,636 shares of the industrial products company’s stock after purchasing an additional 2,997 shares during the quarter. Caterpillar makes up 0.7% of Simplicity Wealth LLC’s holdings, making the stock its 22nd largest holding. Simplicity Wealth LLC’s holdings in Caterpillar were worth $24,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of CAT. BlackRock Inc. acquired a new position in shares of Caterpillar during the 2nd quarter worth approximately $40,457,153,000. State Street Corp raised its stake in shares of Caterpillar by 4.0% during the 2nd quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock worth $37,120,529,000 after purchasing an additional 1,396,356 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Caterpillar in the 2nd quarter valued at approximately $5,818,150,000. Diamant Asset Management Inc. boosted its holdings in shares of Caterpillar by 68,427.2% in the 1st quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock valued at $2,224,992,000 after buying an additional 3,136,020 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Caterpillar in the second quarter valued at $3,192,710,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Key Headlines Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Analysts expect Caterpillar to deliver year-over-year earnings growth in its upcoming third-quarter report. The company’s positive Earnings ESP and favorable estimate revisions suggest potential for an earnings beat, supported by manufacturing strength and demand for industrial equipment. Caterpillar Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Technical and fundamental indicators are encouraging some investors to view the recent decline as a buying opportunity. A hammer chart pattern points to possible support, while upward earnings-estimate revisions could help drive a near-term recovery. Bears Are Losing Control Over Caterpillar
• Positive Sentiment: Zacks lists Caterpillar among industrial companies with the potential to outperform third-quarter earnings expectations, reflecting continued confidence in the sector’s demand environment. Industrial Stocks Set to Outshine Q3 Earnings Estimates
• Neutral Sentiment: The key catalyst is Caterpillar’s forthcoming quarterly report. Investors will focus on whether earnings growth, revenue momentum and management’s outlook validate the optimistic estimates. The company’s previous quarter featured a substantial earnings and revenue beat, providing a supportive comparison.
• Negative Sentiment: The recent selloff has materially weakened CAT’s momentum and caused it to underperform the S&P 500, with much of the decline concentrated in only a few trading sessions. Continued investor caution, profit-taking or disappointment in the upcoming report could keep pressure on the shares. Caterpillar Just Dropped 10% in a Month

Caterpillar Price Performance

NYSE:CAT opened at $686.52 on Friday. Caterpillar Inc. has a 12-month low of $521.02 and a 12-month high of $1,073.46. The firm has a market capitalization of $315.58 billion, a price-to-earnings ratio of 29.54, a P/E/G ratio of 1.18 and a beta of 1.58. The stock’s 50 day moving average price is $798.82 and its two-hundred day moving average price is $855.65. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $6.22 by $1.95. The company had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.72 EPS. On average, analysts anticipate that Caterpillar Inc. will post 27.74 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, October 26th. Caterpillar’s dividend payout ratio is 28.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Caterpillar from $877.00 to $897.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Truist Financial cut their price target on shares of Caterpillar from $1,225.00 to $1,100.00 and set a “buy” rating for the company in a research note on Monday, October 5th. UBS Group lifted their price objective on shares of Caterpillar from $900.00 to $925.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, Citigroup lowered their price objective on shares of Caterpillar from $1,100.00 to $950.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $967.83.

Insider Transactions at Caterpillar

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the sale, the chief executive officer owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

About Caterpillar

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.