Caterpillar Inc. $CAT Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,486 shares of the industrial products company’s stock after selling 11,235 shares during the period. Caterpillar comprises 2.3% of Meyer Handelman Co.’s holdings, making the stock its 10th largest holding. Meyer Handelman Co.’s holdings in Caterpillar were worth $74,024,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Torren Management LLC acquired a new position in shares of Caterpillar during the 4th quarter worth $27,000. Frazier Financial Advisors LLC boosted its stake in Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after buying an additional 33 shares in the last quarter. IFS Advisors LLC bought a new position in Caterpillar in the fourth quarter valued at about $31,000. Cornerstone Financial Management LLC acquired a new position in Caterpillar during the fourth quarter worth about $32,000. Finally, Rialto Wealth Management LLC raised its stake in Caterpillar by 47.4% during the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 18 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CAT shares. JPMorgan Chase & Co. raised their price target on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Bank of America increased their price objective on shares of Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Caterpillar in a report on Friday, May 8th. Finally, DA Davidson increased their price target on Caterpillar from $650.00 to $845.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $939.86.

Insiders Place Their Bets

In related news, CFO Andrew R. J. Bonfield sold 15,674 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the transaction, the chief financial officer directly owned 52,935 shares of the company’s stock, valued at $48,631,913.85. This trade represents a 22.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the sale, the insider owned 49,825 shares in the company, valued at $45,236,615.75. This trade represents a 20.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 95,773 shares of company stock valued at $87,642,635 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Stock Performance

Caterpillar stock opened at $1,053.62 on Friday. The business has a 50 day moving average of $892.87 and a 200-day moving average of $753.39. The company has a market capitalization of $485.28 billion, a P/E ratio of 52.44, a P/E/G ratio of 1.96 and a beta of 1.59. Caterpillar Inc. has a 1 year low of $373.04 and a 1 year high of $1,057.07. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The business had revenue of $17.41 billion for the quarter, compared to the consensus estimate of $16.53 billion. During the same period last year, the company earned $4.25 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. On average, equities research analysts predict that Caterpillar Inc. will post 24.64 earnings per share for the current year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be paid a $1.63 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, July 20th. Caterpillar’s payout ratio is presently 30.06%.

Key Headlines Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar is being boosted by a record backlog, AI-related power generation demand, and aggressive capital returns, which support the case for continued earnings strength. Caterpillar Soars But Analysts Remain Cautious
• Positive Sentiment: Wells Fargo reportedly raised its price recommendation on Caterpillar, reinforcing bullish sentiment around the stock’s dividend growth and long-term earnings power. Top 5 Blue Chip Stocks with Growing Dividends
• Positive Sentiment: Several writeups pointed to Caterpillar’s strong year-to-date and multi-year performance, suggesting investors are still re-rating the stock higher on expectations for continued growth. Caterpillar (CAT) Stock Near $984 After Big Rally Is There Still Upside Potential
• Neutral Sentiment: Articles comparing Caterpillar to other industrial and mining stocks are mostly informational and do not appear to add a fresh catalyst on their own. Unpacking Q1 Earnings: Caterpillar (NYSE:CAT) In The Context Of Other Heavy Machinery Stocks
• Neutral Sentiment: The Caterpillar Foundation’s $2.5 million initiative for America’s 250th anniversary is positive from a corporate social responsibility standpoint, but it is unlikely to materially affect near-term earnings. Caterpillar Foundation Announces $2.5 Million Initiative in Celebration of America’s 250th Anniversary
• Negative Sentiment: Some coverage noted that analysts remain cautious after the stock’s big rally, implying valuation concerns and the possibility of upside slowing from here. Caterpillar Soars But Analysts Remain Cautious

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.