Investment Management Corp of Ontario Raises Stake in Caterpillar Inc. $CAT

Investment Management Corp of Ontario increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 33.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 43,855 shares of the industrial products company’s stock after purchasing an additional 11,093 shares during the period. Investment Management Corp of Ontario’s holdings in Caterpillar were worth $25,123,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Caterpillar by 3,949.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after acquiring an additional 5,098,964 shares in the last quarter. Capital International Investors bought a new position in Caterpillar during the 4th quarter worth approximately $1,225,317,000. Northwestern Mutual Wealth Management Co. grew its position in Caterpillar by 573.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock worth $861,947,000 after acquiring an additional 1,281,087 shares during the last quarter. Bank of America Corp DE grew its position in Caterpillar by 16.0% during 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 acquiring an additional 928,974 shares during the last quarter. Finally, Cynosure Group LLC grew its position in Caterpillar by 8,359.6% during the 4th quarter. Cynosure Group LLC now owns 513,754 shares of the industrial products company’s stock worth $294,314,000 after acquiring an additional 507,681 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAT shares. Evercore restated an “outperform” rating and set a $1,103.00 price target on shares of Caterpillar in a research report on Monday, May 11th. Bank of America raised their price target on Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Wolfe Research raised their price target on Caterpillar from $670.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Caterpillar in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One research 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $935.09.

Caterpillar Price Performance

Shares of CAT stock opened at $955.17 on Thursday. The firm has a market cap of $439.94 billion, a P/E ratio of 47.54, a P/E/G ratio of 1.87 and a beta of 1.59. Caterpillar Inc. has a fifty-two week low of $356.96 and a fifty-two week high of $975.64. The business’s 50 day moving average price is $865.45 and its 200-day moving average price is $735.73. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data 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 firm had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $4.25 EPS. On average, equities research analysts anticipate that Caterpillar Inc. will post 24.62 earnings per share for the current year.

Caterpillar Increases Dividend

The company 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, July 20th. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio (DPR) is 30.06%.

Key Headlines Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: JPMorgan raised its price target on Caterpillar to $1,165 from $1,125 and kept an “overweight” rating, signaling continued confidence in the stock’s upside. MarketScreener
• Positive Sentiment: Articles highlighted Caterpillar as a blue-chip stock to own, helped by bullish market momentum as the Dow reached a new milestone. Zacks
• Positive Sentiment: Caterpillar recently increased its dividend, reinforcing management’s confidence in cash generation and making the stock more attractive to income investors. Yahoo Finance
• Positive Sentiment: Coverage also pointed to Caterpillar’s improving growth story, including a large AI-related backlog and rising demand in its power generation business, which supports a stronger long-term outlook. Yahoo Finance
• Neutral Sentiment: Several market recap pieces noted Caterpillar’s gains were helping lift the Dow to record highs, but these articles were more about broad index performance than a new company-specific catalyst. MSN

Insider Buying and Selling

In other news, insider Jason Kaiser sold 5,642 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $883.03, for a total value of $4,982,055.26. Following the completion of the transaction, the insider owned 9,594 shares in the company, valued at $8,471,789.82. This trade represents a 37.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 16,283 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $916.80, for a total value of $14,928,254.40. Following the completion of the transaction, 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. Insiders have sold a total of 95,773 shares of company stock worth $87,642,635 over the last quarter. Company insiders own 0.33% of the company’s stock.

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.