Caterpillar Inc. $CAT Stock: Maryland State Retirement & Pension System Increases Holdings

Maryland State Retirement & Pension System grew its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 14.0% in the 3rd quarter, Holdings Channel reports. The fund owned 27,883 shares of the industrial products company’s stock after acquiring an additional 3,419 shares during the period. Maryland State Retirement & Pension System’s holdings in Caterpillar were worth $22,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CAT. Stonebridge Financial Group LLC grew its stake in Caterpillar by 0.7% during the 2nd quarter. Stonebridge Financial Group LLC now owns 1,635 shares of the industrial products company’s stock valued at $1,741,000 after purchasing an additional 11 shares in the last quarter. Inspirion Wealth Advisors LLC increased its holdings in Caterpillar by 1.2% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 944 shares of the industrial products company’s stock worth $936,000 after purchasing an additional 11 shares during the last quarter. Bell Bank raised its position in shares of Caterpillar by 0.6% in the 2nd quarter. Bell Bank now owns 1,865 shares of the industrial products company’s stock valued at $1,986,000 after purchasing an additional 11 shares in the last quarter. Cornerstone Advisory LLC raised its position in shares of Caterpillar by 0.7% in the 1st quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock valued at $1,288,000 after purchasing an additional 12 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its stake in shares of Caterpillar by 0.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 2,057 shares of the industrial products company’s stock valued at $2,190,000 after buying an additional 13 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAT shares. Sanford C. Bernstein reissued a “market perform” rating and set a $749.00 price target on shares of Caterpillar in a research report on Wednesday, October 14th. UBS Group cut their price target on shares of Caterpillar from $925.00 to $750.00 and set a “neutral” rating on the stock in a report on Monday, October 26th. Needham & Company LLC set a $980.00 price objective on shares of Caterpillar in a research note on Thursday, September 10th. Royal Bank Of Canada decreased their price objective on shares of Caterpillar from $897.00 to $722.00 and set a “sector perform” rating for the company in a report on Friday, October 30th. Finally, Erste Group Bank downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Monday, July 27th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $898.25.

More Caterpillar News

Here’s some of the latest news about CAT:

• 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.
• Neutral Sentiment: Bank of America maintained its Buy rating but warned Caterpillar’s valuation could face further pressure if uncertainty around data-center investment persists. The bank noted the earnings multiple had declined from about 30 to 17. Read More.
• Negative Sentiment: Michael Burry’s bearish Caterpillar options reportedly gained sharply during the recent sell-off. Reports say he trimmed the position after the puts nearly quadrupled but has not fully exited, keeping a visible bearish signal in the market. Read More.

Insider Transactions at Caterpillar

In related news, CEO Joseph Creed sold 32,401 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Fish, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were acquired at an average price of $620.39 per share, for a total transaction of $620,390.00. Following the purchase, the director owned 4,714 shares of the company’s stock, valued at $2,924,518.46. This trade represents a 26.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 2.9%

NYSE:CAT opened at $601.75 on Thursday. The company has a market cap of $275.36 billion, a PE ratio of 23.61, a P/E/G ratio of 1.01 and a beta of 1.65. The business’s 50 day moving average is $748.35 and its two-hundred day moving average is $805.55. The company has a quick ratio of 0.88, a current ratio of 1.42 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 52 week low of $537.08 and a 52 week high of $1,073.46.

Caterpillar (NYSE:CAT) last issued 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. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The business had revenue of $20.68 billion during the quarter, compared to the consensus estimate of $20.76 billion. During the same period in the previous year, the business earned $4.95 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts predict that Caterpillar Inc. will post 27.38 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, October 26th. Caterpillar’s dividend payout ratio (DPR) is presently 25.58%.

Caterpillar Company 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.