Caterpillar Inc. $CAT Stock: Summit Wealth Group LLC Co. Raises Stake

by · The Cerbat Gem

Summit Wealth Group LLC Co. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 192.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,581 shares of the industrial products company’s stock after acquiring an additional 4,327 shares during the quarter. Summit Wealth Group LLC Co.’s holdings in Caterpillar were worth $5,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Caterpillar during the 2nd quarter valued at approximately $40,457,153,000. Bank of America Corp DE bought a new position in Caterpillar during the 2nd quarter worth approximately $5,818,150,000. Bank of New York Mellon Corp acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $3,192,710,000. Legal & General Group Plc acquired a new position in shares of Caterpillar in the 2nd quarter worth approximately $2,783,451,000. Finally, Ascentis Wealth Management LLC boosted its stake in shares of Caterpillar by 110,539.0% in the 2nd quarter. Ascentis Wealth Management LLC now owns 2,518,143 shares of the industrial products company’s stock valued at $2,711,772,000 after purchasing an additional 2,515,867 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent analyst reports. DA Davidson decreased their price objective on shares of Caterpillar from $882.00 to $685.00 and set a “neutral” rating for the company in a research report on Monday. President Capital initiated coverage on shares of Caterpillar in a report on Friday, September 18th. They issued a “buy” rating and a $999.00 target price on the stock. Needham & Company LLC set a $980.00 price target on shares of Caterpillar in a research report on Thursday, September 10th. Wells Fargo & Company decreased their price target on Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $749.00 price target on shares of Caterpillar in a report on Wednesday, October 14th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $898.25.

View Our Latest Stock Analysis on Caterpillar

Trending Headlines about Caterpillar

Here are the key news stories impacting Caterpillar this week:

  • Positive Sentiment: Caterpillar completed its acquisition of John Fabick Tractor Company, a more-than-century-old Cat dealer serving Missouri, Illinois, Wisconsin and Michigan’s Upper Peninsula. The transaction should expand Caterpillar’s regional distribution and strengthen parts, maintenance and equipment support, although financial terms were not disclosed. Caterpillar Inc. Acquires Fabick Cat Dealership
  • Positive Sentiment: The company continues to benefit from strong demand: its third-quarter backlog reached a record $78 billion, while power-generation sales to users rose 75%, supported by data-center demand. One global bank reportedly sees substantial upside after the stock’s steep six-month decline. Caterpillar: 3 Key Takeaways for Long-Term Investors
  • Neutral Sentiment: Freedom Broker lowered its price target to $800 from $980 but retained a Buy rating, implying considerable potential upside based on the current quotation. Truist also reiterated its Buy rating, providing some support for the long-term outlook. Freedom Broker Caterpillar Rating
  • Negative Sentiment: DA Davidson cut its target to $685 from $882 and maintained a Neutral rating, arguing that Caterpillar trades at roughly a 50% premium to peers despite accelerating demand across its three segments. The sharp target reduction is putting the stock’s valuation premium under scrutiny. CAT Stock Gets Price Target Cuts
  • Negative Sentiment: Additional target reductions from RBC, Citigroup, JPMorgan and Morgan Stanley are reinforcing concerns about Caterpillar’s elevated valuation and near-term risk, offsetting the company’s strong backlog and end-market demand.

Insider Transactions at Caterpillar

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $27,954,303.90. The trade was a 48.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Down 1.6%

Shares of Caterpillar stock opened at $612.78 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. Caterpillar Inc. has a 52 week low of $537.08 and a 52 week high of $1,073.46. The stock has a 50 day moving average price of $778.93 and a two-hundred day moving average price of $807.40. The stock has a market capitalization of $281.68 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.22 and a beta of 1.58.

Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, beating the consensus estimate of $7.06 by $0.14. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. The firm had revenue of $20.68 billion during the quarter, compared to the consensus estimate of $20.76 billion. During the same quarter in the previous year, the company posted $4.95 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities analysts anticipate that Caterpillar Inc. will post 27.75 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

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

Caterpillar Company Profile

(Free Report)

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.

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