Caterpillar Inc. $CAT Stock Sold by First Financial Bank Trust Division

First Financial Bank Trust Division decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,696 shares of the industrial products company’s stock after selling 761 shares during the period. Caterpillar comprises 1.1% of First Financial Bank Trust Division’s portfolio, making the stock its 22nd largest holding. First Financial Bank Trust Division’s holdings in Caterpillar were worth $14,348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Caterpillar during the 2nd quarter valued at $40,457,153,000. State Street Corp grew its holdings 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 acquiring an additional 1,396,356 shares during the period. Bank of America Corp DE purchased a new stake in Caterpillar during the second quarter valued at $5,818,150,000. Bank of New York Mellon Corp bought a new position in Caterpillar in the second quarter valued at about $3,192,710,000. Finally, Legal & General Group Plc purchased a new position in Caterpillar in the second quarter worth about $2,783,451,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Needham & Company LLC set a $980.00 price target on Caterpillar in a research note on Thursday, September 10th. JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Wall Street Zen downgraded shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Saturday, September 26th. DA Davidson upped their target price on shares of Caterpillar from $845.00 to $882.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Barclays increased their price target on shares of Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $994.38.

Caterpillar Stock Performance

Shares of NYSE CAT traded up $15.89 during trading on Thursday, hitting $826.68. The company had a trading volume of 2,117,371 shares, compared to its average volume of 2,827,563. Caterpillar Inc. has a 12 month low of $483.55 and a 12 month high of $1,073.46. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. The firm has a market capitalization of $380.00 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.60. The stock has a 50 day simple moving average of $824.50 and a 200 day simple moving average of $848.10.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same period in the prior year, the firm posted $4.72 EPS. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, analysts anticipate that Caterpillar Inc. will post 27.37 earnings per share for the current year.

Key Headlines Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: $1 billion North Carolina investment: Caterpillar plans to build a new Sanford manufacturing facility to increase production of compact track loaders and telehandlers. The project is expected to create more than 1,950 jobs and benefits from approximately $85 million in local incentives, supporting long-term capacity and revenue growth. Caterpillar to Invest $1 Billion in North Carolina
• Positive Sentiment: Exposure to a growing equipment segment: The expansion advances Caterpillar’s Cat Compact strategy and should help the company serve demand from residential construction, infrastructure and other job sites more quickly. Investors may view the commitment as evidence that management expects durable demand for smaller construction machines. Caterpillar’s Compact Equipment Investment
• Positive Sentiment: Broader growth initiatives: Caterpillar has agreed to acquire the Fabick Cat dealership, expanding its distribution footprint across several states. The move could improve customer access, aftermarket services and control of the dealer channel, while the company continues investing in mining technology, autonomy and AI-enabled equipment. Caterpillar North Carolina Expansion and Fabick Acquisition
• Neutral Sentiment: Execution and valuation remain considerations: The factory and dealership acquisition require significant capital and could pressure near-term returns before generating benefits. CAT’s strong recent performance, including earnings and revenue that exceeded expectations, has also lifted valuation, leaving the stock more sensitive to project execution, construction demand and future cash-flow growth.

Insider Activity at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of Caterpillar stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.