3,558 Caterpillar Inc. $CAT Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 599,504 shares of the industrial products company’s stock after purchasing an additional 3,558 shares during the period. Caterpillar accounts for 0.8% of Fifth Third Bancorp’s portfolio, making the stock its 23rd biggest position. Fifth Third Bancorp’s holdings in Caterpillar were worth $486,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CAT. BlackRock Inc. acquired a new position in Caterpillar during the second quarter worth $40,457,153,000. State Street Corp lifted its stake in shares of Caterpillar by 4.0% in the second quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock worth $37,120,529,000 after buying an additional 1,396,356 shares in the last quarter. Bank of America Corp DE acquired a new stake in Caterpillar in the 2nd quarter valued at about $5,818,150,000. Bank of New York Mellon Corp acquired a new stake in shares of Caterpillar in the second quarter valued at approximately $3,192,710,000. Finally, Legal & General Group Plc purchased a new position in Caterpillar during the second quarter worth approximately $2,783,451,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction on 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 directly owned 34,555 shares of the company’s stock, valued at $27,954,303.90. This trade represents a 48.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director C Jr purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were bought at an average price of $620.39 per share, for a total transaction of $620,390.00. Following the completion of the purchase, the director directly owned 4,714 shares in the company, valued at $2,924,518.46. This represents a 26.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of CAT opened at $601.75 on Thursday. The firm has a market capitalization of $275.36 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.01 and a beta of 1.65. The firm’s fifty day simple moving average is $748.35 and its 200-day simple moving average is $805.55. Caterpillar Inc. has a twelve month low of $537.08 and a twelve month high of $1,073.46. The company has a current ratio of 1.42, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, beating the consensus estimate of $7.06 by $0.14. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The firm had revenue of $20.68 billion for the quarter, compared to analyst estimates of $20.76 billion. During the same quarter in the prior year, the company posted $4.95 earnings per share. Caterpillar’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts forecast that Caterpillar Inc. will post 27.38 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, October 26th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, October 26th. Caterpillar’s payout ratio is currently 25.58%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CAT. Robert W. Baird set a $970.00 price target on shares of Caterpillar in a research note on Wednesday, August 5th. Oppenheimer reiterated an “outperform” rating and issued a $1,009.00 target price on shares of Caterpillar in a report on Thursday, October 29th. Sanford C. Bernstein restated a “market perform” rating and set a $749.00 price target on shares of Caterpillar in a research report on Wednesday, October 14th. Barclays boosted their price target on shares of Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 29th. Fifteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and an average price target of $898.25.

Caterpillar News Summary

Investors following CAT have been watching these news items:

• Positive Sentiment: A reported $3.4 billion Anthropic generator deal highlights potential demand for Caterpillar’s power-generation equipment as AI data centers expand. Recent coverage also cited record third-quarter revenue and guidance for full-year sales growth in the mid-to-high teens. Read More.
• Positive Sentiment: Caterpillar appeared on a list of stocks insiders are buying after the market sell-off, a signal some investors may view as confidence in the company after its decline. Read More.
• Neutral Sentiment: Bank of America maintained its Buy rating but warned Caterpillar’s valuation could face further pressure if uncertainty around data-center investment persists. The bank noted the earnings multiple had declined from about 30 to 17. Read More.

About Caterpillar

Caterpillar Inc. is a global manufacturer of construction and mining equipment, engines, turbines, and related products and services. Its offerings include earthmoving and material-handling machines, diesel and natural gas engines, power-generation systems, and equipment and technologies used in mining and transportation. The company’s products are commonly sold under the Cat brand. Caterpillar serves customers in markets around the world through a network of independent dealers. Its businesses also provide parts, maintenance, equipment rental, and other support services, as well as financing and insurance through its financial services operations.