NewEdge Wealth LLC Invests $6.68 Million in Caterpillar Inc. $CAT

NewEdge Wealth LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 6,274 shares of the industrial products company’s stock, valued at approximately $6,681,000.

Several other hedge funds have also recently bought and sold shares of CAT. Pacific Point Advisors LLC acquired a new stake in shares of Caterpillar during the fourth quarter worth $579,000. Brighton Jones LLC raised its stake in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after purchasing an additional 2,519 shares during the period. United Bank raised its stake in shares of Caterpillar by 108.5% in the 2nd quarter. United Bank now owns 4,083 shares of the industrial products company’s stock valued at $1,585,000 after purchasing an additional 2,125 shares during the period. Schnieders Capital Management LLC. boosted its position in shares of Caterpillar by 3.9% during the second quarter. Schnieders Capital Management LLC. now owns 9,147 shares of the industrial products company’s stock worth $3,551,000 after buying an additional 347 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in shares of Caterpillar by 6.5% during the second quarter. Alliancebernstein L.P. now owns 572,165 shares of the industrial products company’s stock worth $222,120,000 after buying an additional 34,846 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Down 0.3%

Shares of NYSE CAT opened at $797.72 on Tuesday. The company’s fifty day simple moving average is $889.47 and its 200 day simple moving average is $838.20. Caterpillar Inc. has a 12-month low of $410.52 and a 12-month high of $1,073.46. The firm has a market cap of $366.69 billion, a PE ratio of 34.33, a P/E/G ratio of 1.40 and a beta of 1.60. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The business had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same period in the previous year, the company posted $4.72 EPS. The firm’s revenue was up 23.7% compared to the same quarter last year. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th were issued a dividend of $1.63 per share. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, July 20th. Caterpillar’s dividend payout ratio is 28.06%.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: July durable-goods orders rose 1.1%, suggesting a manufacturing rebound that could support demand for Caterpillar’s construction, mining and industrial equipment. CAT was identified as one of several industrial stocks positioned to benefit. 4 Industrial Stocks to Grab on Robust Jump in Durable Goods Orders
• Positive Sentiment: Erste Group Bank reportedly expects stronger earnings for Caterpillar, adding to the constructive analyst outlook surrounding the company. Erste Group Bank Predicts Stronger Earnings for Caterpillar
• Positive Sentiment: Caterpillar’s power-generation business is benefiting from rising electricity demand tied to data centers and artificial intelligence. Recent coverage points to a first-ever quarterly sales total above $20 billion and identifies power generation as an increasingly important growth engine. Forget the Industry Labels: Chevron and Caterpillar Are Both Betting on the AI Power Boom
• Positive Sentiment: The company is applying its autonomous-mining expertise to industrial AI deployment, including field-support tools such as the Cat AI Assistant. Caterpillar also committed $100 million to AI and robotics workforce training, which could improve productivity and strengthen its technology positioning. Caterpillar Commits $100 Million to AI and Robotics Training
• Neutral Sentiment: Wall Street’s average brokerage recommendation remains bullish, but the coverage notes that sell-side ratings are often overly optimistic and may have limited predictive value for CAT’s performance. Is Caterpillar a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: At a high earnings multiple, Caterpillar is increasingly being valued like a technology-growth company. That raises the risk of pressure on the stock if AI-related growth, power-equipment demand or earnings forecasts fail to exceed expectations. How AI Power Demand Transformed Caterpillar into a High-Multiple Tech Play

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a report on Tuesday, June 23rd. Rothschild & Co Redburn increased their price target on Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Argus boosted their target price on shares of Caterpillar from $820.00 to $990.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Zacks Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Finally, Citigroup boosted their target price on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $995.52.

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.