Triangle Securities Wealth Management Sells 7,247 Shares of Caterpillar Inc. $CAT

Triangle Securities Wealth Management reduced its stake in Caterpillar Inc. (NYSE:CAT) by 53.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,353 shares of the industrial products company’s stock after selling 7,247 shares during the quarter. Caterpillar comprises approximately 1.0% of Triangle Securities Wealth Management’s portfolio, making the stock its 28th biggest holding. Triangle Securities Wealth Management’s holdings in Caterpillar were worth $4,501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAT. Vanguard Group Inc. grew its position in Caterpillar by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company’s stock worth $26,572,681,000 after acquiring an additional 442,164 shares in the last quarter. State Street Corp raised its position in Caterpillar by 1.1% during the fourth quarter. State Street Corp now owns 35,388,550 shares of the industrial products company’s stock valued at $20,273,039,000 after purchasing an additional 385,204 shares in the last quarter. Geode Capital Management LLC lifted its stake in Caterpillar by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 10,610,182 shares of the industrial products company’s stock worth $6,072,572,000 after purchasing an additional 94,524 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Caterpillar by 0.6% during the fourth quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company’s stock worth $5,438,408,000 after purchasing an additional 54,069 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Caterpillar by 16.0% in the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock worth $3,860,457,000 after purchasing an additional 928,974 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Price Performance

CAT stock opened at $1,053.62 on Friday. The stock has a market capitalization of $485.28 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 1.96 and a beta of 1.59. The firm’s 50-day moving average price is $892.87 and its two-hundred day moving average price is $753.39. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 12-month low of $373.04 and a 12-month high of $1,057.07.

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

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.6%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Monday, July 20th. Caterpillar’s payout ratio is presently 30.06%.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 5,642 shares of the business’s 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 approximately $8,471,789.82. The trade was a 37.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Denise C. Johnson sold 12,605 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the transaction, the insider owned 49,825 shares of the company’s stock, valued at $45,236,615.75. This trade represents a 20.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 95,773 shares of company stock valued at $87,642,635 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Key Stories Impacting Caterpillar

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Evercore reissued an “outperform” rating and set a $1,103.00 price objective on shares of Caterpillar in a report on Monday, May 11th. Rothschild & Co Redburn increased their price target on shares of Caterpillar from $700.00 to $950.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Oppenheimer set a $980.00 price objective on shares of Caterpillar and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Robert W. Baird increased their target price on shares of Caterpillar from $940.00 to $1,165.00 and gave the company an “outperform” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $939.86.

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.