Meyer Handelman Co. Cuts Holdings in Caterpillar Inc. $CAT

Meyer Handelman Co. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,486 shares of the industrial products company’s stock after selling 11,235 shares during the period. Caterpillar accounts for approximately 2.3% of Meyer Handelman Co.’s investment portfolio, making the stock its 10th biggest holding. Meyer Handelman Co.’s holdings in Caterpillar were worth $74,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Torren Management LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC increased its stake in shares of Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 33 shares in the last quarter. IFS Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at $31,000. Rialto Wealth Management LLC lifted its position in shares of Caterpillar by 47.4% during the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 18 shares during the period. Finally, Cornerstone Financial Management LLC bought a new position in Caterpillar during the fourth quarter worth $32,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. Evercore reaffirmed an “outperform” rating and issued a $1,103.00 price target on shares of Caterpillar in a research note on Monday, May 11th. Zacks Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Barclays boosted their target price on Caterpillar from $700.00 to $800.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Bank of America upped their price target on Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Morgan Stanley set a $915.00 price objective on Caterpillar and gave the company an “equal weight” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $939.86.

Caterpillar Trading Up 5.9%

NYSE:CAT opened at $1,053.62 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. Caterpillar Inc. has a one year low of $373.04 and a one year high of $1,057.07. The company has a market cap of $485.28 billion, a PE ratio of 52.44, a PEG ratio of 1.96 and a beta of 1.59. The firm has a 50-day moving average of $892.87 and a 200-day moving average of $753.39.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.65 by $0.89. The business had revenue of $17.41 billion during the quarter, compared to the consensus estimate of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.25 EPS. As a group, equities research analysts expect that Caterpillar Inc. will post 24.64 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, July 20th. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s payout ratio is currently 30.06%.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar is being boosted by a record backlog, AI-related power generation demand, and aggressive capital returns, which support the case for continued earnings strength. Caterpillar Soars But Analysts Remain Cautious
• Positive Sentiment: Wells Fargo reportedly raised its price recommendation on Caterpillar, reinforcing bullish sentiment around the stock’s dividend growth and long-term earnings power. Top 5 Blue Chip Stocks with Growing Dividends
• Positive Sentiment: Several writeups pointed to Caterpillar’s strong year-to-date and multi-year performance, suggesting investors are still re-rating the stock higher on expectations for continued growth. Caterpillar (CAT) Stock Near $984 After Big Rally Is There Still Upside Potential
• Neutral Sentiment: Articles comparing Caterpillar to other industrial and mining stocks are mostly informational and do not appear to add a fresh catalyst on their own. Unpacking Q1 Earnings: Caterpillar (NYSE:CAT) In The Context Of Other Heavy Machinery Stocks
• Neutral Sentiment: The Caterpillar Foundation’s $2.5 million initiative for America’s 250th anniversary is positive from a corporate social responsibility standpoint, but it is unlikely to materially affect near-term earnings. Caterpillar Foundation Announces $2.5 Million Initiative in Celebration of America’s 250th Anniversary
• Negative Sentiment: Some coverage noted that analysts remain cautious after the stock’s big rally, implying valuation concerns and the possibility of upside slowing from here. Caterpillar Soars But Analysts Remain Cautious

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 5,642 shares of Caterpillar stock in a transaction on Monday, May 4th. The shares were 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. The trade was a 37.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Fassino sold 16,283 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the sale, the insider owned 46,041 shares of the company’s stock, valued at approximately $42,210,388.80. The trade was a 26.13% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 95,773 shares of company stock worth $87,642,635. 0.33% of the stock is currently owned by insiders.

Caterpillar 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.