Machina Capital S.A.S. Purchases New Shares in Caterpillar Inc. $CAT

Machina Capital S.A.S. purchased a new stake in Caterpillar Inc. (NYSE:CAT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,787 shares of the industrial products company’s stock, valued at approximately $3,070,000.

Several other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Caterpillar in the 2nd quarter valued at $40,457,153,000. Bank of America Corp DE acquired a new stake in shares of Caterpillar in the 2nd quarter valued at $5,818,150,000. Bank of New York Mellon Corp acquired a new stake in shares of Caterpillar in the 2nd quarter valued at $3,192,710,000. Legal & General Group Plc bought a new stake in shares of Caterpillar during the second quarter worth $2,783,451,000. Finally, Ascentis Wealth Management LLC raised its position in shares of Caterpillar by 110,539.0% during the second quarter. Ascentis Wealth Management LLC now owns 2,518,143 shares of the industrial products company’s stock worth $2,711,772,000 after acquiring an additional 2,515,867 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CAT shares. JPMorgan Chase & Co. cut their price target on Caterpillar from $1,100.00 to $1,000.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $1,009.00 price objective on shares of Caterpillar in a research report on Thursday, October 29th. Robert W. Baird set a $970.00 price objective on Caterpillar in a report on Wednesday, August 5th. Royal Bank Of Canada dropped their price objective on Caterpillar from $897.00 to $722.00 and set a “sector perform” rating for the company in a report on Friday, October 30th. Finally, Zacks Research downgraded shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Fifteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $898.25.

Recent Caterpillar Headlines

Here are a few of the latest headlines about CAT:

• Positive Sentiment: Evercore ISI kept its Outperform rating and sees about 40% upside, although it lowered its price target to $833 from $1,045. Read More.
• Positive Sentiment: A reported $3.4 billion Anthropic generator deal highlights potential demand for Caterpillar’s power-generation equipment as AI data centers expand. Recent coverage also cited record third-quarter revenue and guidance for full-year sales growth in the mid-to-high teens. Read More.
• Positive Sentiment: Caterpillar appeared on a list of stocks insiders are buying after the market sell-off, a signal some investors may view as confidence in the company after its decline. Read More.

Caterpillar Price Performance

CAT opened at $601.75 on Thursday. The company has a fifty day moving average price of $748.35 and a two-hundred day moving average price of $805.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42. Caterpillar Inc. has a 52 week low of $537.08 and a 52 week high of $1,073.46. The firm has a market capitalization of $275.36 billion, a PE ratio of 23.61, a P/E/G ratio of 1.01 and a beta of 1.65.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share for the quarter, beating analysts’ consensus estimates of $7.06 by $0.14. The company had revenue of $20.68 billion for the quarter, compared to the consensus estimate of $20.76 billion. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.95 EPS. As a group, analysts anticipate that Caterpillar Inc. will post 27.38 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, October 26th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.1%. Caterpillar’s payout ratio is 25.58%.

Insider Transactions at Caterpillar

In related news, Director James C. Fish, Jr. bought 1,000 shares of Caterpillar stock in a transaction on Monday, November 2nd. The shares were purchased at an average price of $620.39 per share, for a total transaction of $620,390.00. Following the completion of the acquisition, the director owned 4,714 shares in the company, valued at approximately $2,924,518.46. This represents a 26.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph Creed sold 32,401 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 34,555 shares in the company, valued at approximately $27,954,303.90. This trade represents a 48.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.