Latitude Advisors LLC Sells 742 Shares of Caterpillar Inc. $CAT

Latitude Advisors LLC reduced its stake in Caterpillar Inc. (NYSE:CAT) by 36.3% during the 3rd quarter, Holdings Channel reports. The fund owned 1,300 shares of the industrial products company’s stock after selling 742 shares during the period. Latitude Advisors LLC’s holdings in Caterpillar were worth $1,054,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CAT. BlackRock Inc. bought a new position in shares of Caterpillar during the second quarter worth approximately $40,457,153,000. State Street Corp boosted its stake in Caterpillar by 4.0% in the 2nd quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock valued at $37,120,529,000 after purchasing an additional 1,396,356 shares during the period. Bank of America Corp DE bought a new stake in Caterpillar in the 2nd quarter valued at $5,818,150,000. Bank of New York Mellon Corp acquired a new position in Caterpillar in the 2nd quarter valued at $3,192,710,000. Finally, Legal & General Group Plc acquired a new position in Caterpillar in the 2nd quarter valued at $2,783,451,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the transaction, the chief executive officer owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This represents a 48.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAT has been the topic of several recent research reports. Weiss Ratings upgraded Caterpillar from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. Barclays boosted their target price on shares of Caterpillar from $800.00 to $900.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Wells Fargo & Company decreased their price target on shares of Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating on the stock in a research note on Monday. Erste Group Bank lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $749.00 price objective on shares of Caterpillar in a research note on Wednesday, October 14th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $947.42.

Caterpillar Stock Performance

CAT opened at $714.14 on Wednesday. Caterpillar Inc. has a 52-week low of $521.67 and a 52-week high of $1,073.46. The firm has a market cap of $328.27 billion, a P/E ratio of 30.73 and a beta of 1.58. The business’s fifty day moving average is $792.99 and its 200-day moving average is $806.88.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, topping the consensus estimate of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.72 EPS. On average, research analysts predict that Caterpillar Inc. will post 27.74 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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

Caterpillar News Summary

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Strong backlog and AI-related demand: Caterpillar’s power-generation equipment is benefiting from data-center and artificial-intelligence infrastructure spending. The company reportedly has a record $72 billion backlog, with orders extending through 2030, supporting a favorable long-term growth outlook. Learn Why The Bull Case For Caterpillar Could Change Following AI Power Demand
• Positive Sentiment: Upcoming earnings catalyst: Analysts expect another quarter of revenue and earnings growth when Caterpillar reports on October 29. A recent estimate increase from Erste Group adds to the positive pre-earnings sentiment. Erste Group Bank Raises Earnings Estimates for Caterpillar
• Positive Sentiment: Shareholder returns and capacity expansion: Caterpillar confirmed a $1.63 quarterly dividend payable November 19 and is investing approximately $1 billion in North Carolina to expand compact-equipment manufacturing. These developments reinforce the company’s income appeal and capacity to serve demand. Caterpillar vs. Deere: Which Heavy Equipment Dividend Is Growing Faster?
• Neutral Sentiment: Leadership transition: Resource Industries head Denise Johnson plans to retire in early 2027, with Derrick York named as her successor. The planned handoff provides continuity, although investors may monitor execution in the mining business. Caterpillar Taps Derrick York as Denise Johnson Sets Early 2027 Retirement
• Negative Sentiment: Tariff and legal risks: Rising tariffs could pressure Caterpillar’s margins, while the company is pursuing a significant legal challenge involving the United Kingdom’s post-Brexit tariffs. The outcome could affect costs and trade flexibility. Caterpillar Mounts Landmark Legal Test of UK’s Post-Brexit Tariffs

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.