Clearstead Advisors LLC Trims Stock Position in Caterpillar Inc. $CAT

Clearstead Advisors LLC cut its stake in Caterpillar Inc. (NYSE:CAT) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,749 shares of the industrial products company’s stock after selling 4,018 shares during the period. Clearstead Advisors LLC’s holdings in Caterpillar were worth $57,716,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAT. Wellington Management Group LLP lifted its position 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 acquiring an additional 5,098,964 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Caterpillar by 573.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock valued at $861,947,000 after acquiring an additional 1,281,087 shares during the last quarter. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 609,023 shares during the last quarter. Amundi raised its holdings in shares of Caterpillar by 24.3% in the third quarter. Amundi now owns 2,375,710 shares of the industrial products company’s stock valued at $1,176,870,000 after buying an additional 464,036 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Caterpillar by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company’s stock valued at $26,572,681,000 after buying an additional 442,164 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Lange Bob De sold 24,222 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the completion of the transaction, the insider directly owned 86,029 shares of the company’s stock, valued at $79,397,884.68. This represents a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jason Kaiser sold 5,642 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the transaction, the insider directly owned 9,594 shares of the company’s stock, valued at $8,471,789.82. This represents a 37.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,273 shares of company stock valued at $89,439,960 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Caterpillar Trading Up 0.0%

NYSE CAT opened at $880.23 on Monday. The stock has a market capitalization of $405.42 billion, a P/E ratio of 43.81, a P/E/G ratio of 1.74 and a beta of 1.63. Caterpillar Inc. has a 52-week low of $336.24 and a 52-week high of $931.35. The firm has a 50-day moving average price of $791.73 and a 200 day moving average price of $691.69. 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 results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.65 by $0.89. The firm had revenue of $17.42 billion during the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.25 earnings per share. Equities research analysts expect that Caterpillar Inc. will post 24.67 EPS for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, April 20th. Caterpillar’s dividend payout ratio is currently 30.06%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CAT. Bank of America upped their target price on shares of Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a report on Friday, May 1st. Williams Trading set a $825.00 target price on shares of Caterpillar in a report on Tuesday, March 10th. Wells Fargo & Company upped their target price on shares of Caterpillar from $960.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Truist Financial set a $1,043.00 target price on shares of Caterpillar in a report on Friday, May 1st. Finally, Rothschild & Co Redburn upped their target price on shares of Caterpillar from $700.00 to $950.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $923.14.

Caterpillar News Roundup

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar’s Power & Energy business is being highlighted as a major growth opportunity, with rising backlog, capacity expansion, and demand from AI data centers supporting the company’s longer-term targets. Article Title
• Positive Sentiment: Separate coverage is reinforcing Caterpillar as a “power infrastructure play,” helped by a strategic framework agreement tied to up to 2.1 gigawatts of incremental power-generation assets, which suggests additional demand beyond its core construction and mining equipment businesses. Article Title
• Positive Sentiment: Caterpillar was also mentioned among the stocks helping drive a strong Dow rally, indicating broader investor demand for the name during today’s market advance. Article Title
• Neutral Sentiment: Caterpillar was included in a hedge-fund stock screen, which may reflect institutional interest, but the item did not add a clear new catalyst by itself. Article Title

Caterpillar Company Profile

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.