Oppenheimer Asset Management Inc. Takes Position in Caterpillar Inc. $CAT

Oppenheimer Asset Management Inc. bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 60,788 shares of the industrial products company’s stock, valued at approximately $64,733,000. Caterpillar accounts for approximately 0.7% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 27th largest holding.

Other hedge funds also recently modified their holdings of the company. Axxcess Wealth Management LLC lifted its stake in shares of Caterpillar by 2.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock worth $12,844,000 after acquiring an additional 604 shares during the period. DSG Capital Advisors LLC acquired a new stake in Caterpillar during the 1st quarter valued at approximately $1,226,000. Cornerstone Planning LLC bought a new position in Caterpillar during the 4th quarter worth approximately $4,517,000. RiverFront Investment Group LLC lifted its position in shares of Caterpillar by 21.1% in the 4th quarter. RiverFront Investment Group LLC now owns 8,915 shares of the industrial products company’s stock worth $5,107,000 after purchasing an additional 1,552 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of Caterpillar by 73.6% in the 4th quarter. Larson Financial Group LLC now owns 12,915 shares of the industrial products company’s stock valued at $7,399,000 after purchasing an additional 5,476 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CAT shares. Bank of America lifted their target price on shares of Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price target on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Zacks Research raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Truist Financial set a $980.00 target price on Caterpillar in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and a consensus price target of $995.52.

Caterpillar News Summary

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Analysts point to solid earnings-estimate revisions and price momentum as reasons Caterpillar could continue higher. The company’s latest quarter also featured sharply higher revenue and earnings that exceeded consensus estimates, supporting the bullish case. Why Caterpillar Might Be Well Poised for a Surge
• Positive Sentiment: Caterpillar received approval in principle for a MaK dual-fuel conversion, potentially supporting its marine business and longer-term demand for lower-emission power solutions. Caterpillar Receives Approval for MaK Dual-Fuel Conversion
• Positive Sentiment: New-product exposure, including the TUL100 mini skid steer, and planned investment in an Indiana plant indicate continued attention to product development and manufacturing capacity. The company is also expanding its global headquarters, with filings showing project costs exceeding $50 million. Caterpillar Planning Indiana Plant Investment
• Neutral Sentiment: CEO Joe Creed is scheduled to participate in a Wells Fargo investor discussion on September 10. Commentary on demand trends, margins and the company’s outlook could provide a future catalyst, but no new financial guidance was announced. Caterpillar CEO to Participate in Wells Fargo Investor Discussion
• Neutral Sentiment: A multi-year sponsorship agreement with the University of Illinois raises Caterpillar’s brand visibility but is unlikely to materially affect near-term earnings. Caterpillar Illinois Sponsorship Agreement
• Negative Sentiment: At roughly 35 times earnings, Caterpillar’s valuation leaves less room for disappointment. Commentary also highlights the risk of an industrial slowdown, while a covered-call strategy article underscores investor concern about waiting through weaker conditions. Two Reasons to Like CAT and One to Stay Skeptical
• Negative Sentiment: A reported worker injury at Caterpillar’s Mapleton facility is a localized operational and reputational risk, although the available report does not indicate a broader business disruption. Worker Injured at Caterpillar Mapleton Facility

Caterpillar Stock Down 0.5%

Shares of NYSE CAT opened at $817.99 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The firm has a market cap of $376.01 billion, a PE ratio of 35.20, a P/E/G ratio of 1.44 and a beta of 1.60. The company’s fifty day simple moving average is $897.67 and its 200 day simple moving average is $837.40. Caterpillar Inc. has a 12-month low of $410.52 and a 12-month high of $1,073.46.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating the consensus estimate of $6.22 by $1.95. The firm had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.72 earnings per share. As a group, sell-side analysts forecast that Caterpillar Inc. will post 27.14 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Monday, July 20th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, July 20th. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio is presently 28.06%.

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.