Sterling Capital Management LLC Sells 1,113 Shares of Caterpillar Inc. $CAT

Sterling Capital Management LLC lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,303 shares of the industrial products company’s stock after selling 1,113 shares during the quarter. Sterling Capital Management LLC’s holdings in Caterpillar were worth $9,164,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Christensen King & Associates Investment Services Inc. raised its position in shares of Caterpillar by 8.0% during the 3rd quarter. Christensen King & Associates Investment Services Inc. now owns 378 shares of the industrial products company’s stock valued at $306,000 after buying an additional 28 shares in the last quarter. TSA Wealth Managment LLC grew its position in Caterpillar by 5.4% in the third quarter. TSA Wealth Managment LLC now owns 697 shares of the industrial products company’s stock worth $565,000 after acquiring an additional 36 shares in the last quarter. Inspire Investing LLC grew its position in Caterpillar by 17.6% in the third quarter. Inspire Investing LLC now owns 79,445 shares of the industrial products company’s stock worth $64,413,000 after acquiring an additional 11,909 shares in the last quarter. XXI Wealth LLC increased its stake in Caterpillar by 2.2% in the third quarter. XXI Wealth LLC now owns 1,884 shares of the industrial products company’s stock valued at $1,528,000 after acquiring an additional 41 shares during the last quarter. Finally, BIP Wealth LLC increased its stake in Caterpillar by 4.0% in the third quarter. BIP Wealth LLC now owns 1,615 shares of the industrial products company’s stock valued at $1,309,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of research reports. President Capital began coverage on Caterpillar in a research report on Friday, September 18th. They set a “buy” rating and a $999.00 price target on the stock. Erste Group Bank cut Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, July 27th. UBS Group increased their price objective on Caterpillar from $900.00 to $925.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein reissued a “market perform” rating and set a $749.00 price objective on shares of Caterpillar in a report on Wednesday, October 14th. Finally, Oppenheimer dropped their target price on Caterpillar from $1,118.00 to $1,009.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. Fifteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $967.83.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, CEO Joseph E. 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 value of $26,211,760.98. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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: Analysts expect Caterpillar to deliver year-over-year earnings growth in its upcoming third-quarter report. The company’s positive Earnings ESP and favorable estimate revisions suggest potential for an earnings beat, supported by manufacturing strength and demand for industrial equipment. Caterpillar Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Technical and fundamental indicators are encouraging some investors to view the recent decline as a buying opportunity. A hammer chart pattern points to possible support, while upward earnings-estimate revisions could help drive a near-term recovery. Bears Are Losing Control Over Caterpillar
• Positive Sentiment: Zacks lists Caterpillar among industrial companies with the potential to outperform third-quarter earnings expectations, reflecting continued confidence in the sector’s demand environment. Industrial Stocks Set to Outshine Q3 Earnings Estimates
• Neutral Sentiment: The key catalyst is Caterpillar’s forthcoming quarterly report. Investors will focus on whether earnings growth, revenue momentum and management’s outlook validate the optimistic estimates. The company’s previous quarter featured a substantial earnings and revenue beat, providing a supportive comparison.
• Negative Sentiment: The recent selloff has materially weakened CAT’s momentum and caused it to underperform the S&P 500, with much of the decline concentrated in only a few trading sessions. Continued investor caution, profit-taking or disappointment in the upcoming report could keep pressure on the shares. Caterpillar Just Dropped 10% in a Month

Caterpillar Trading Down 2.5%

Caterpillar stock traded down $17.53 during mid-day trading on Friday, hitting $686.52. The company’s stock had a trading volume of 3,016,836 shares, compared to its average volume of 2,596,919. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85. The stock has a market cap of $315.57 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 1.20 and a beta of 1.58. The business has a 50 day moving average price of $798.82 and a 200-day moving average price of $855.65. Caterpillar Inc. has a 12 month low of $521.02 and a 12 month high of $1,073.46.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The company had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%. Caterpillar’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.72 EPS. As a group, analysts forecast that Caterpillar Inc. will post 27.74 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be given a $1.63 dividend. The ex-dividend date is Monday, October 26th. This represents a $6.52 annualized dividend and a yield of 0.9%. Caterpillar’s payout ratio is presently 28.06%.

Caterpillar Profile

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.