Triangle Securities Wealth Management Sells 7,247 Shares of Caterpillar Inc. $CAT

Triangle Securities Wealth Management reduced its stake in Caterpillar Inc. (NYSE:CAT) by 53.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 6,353 shares of the industrial products company’s stock after selling 7,247 shares during the quarter. Caterpillar accounts for approximately 1.0% of Triangle Securities Wealth Management’s portfolio, making the stock its 28th largest holding. Triangle Securities Wealth Management’s holdings in Caterpillar were worth $4,501,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Torren Management LLC purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC lifted 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 purchasing an additional 33 shares during the last quarter. IFS Advisors LLC bought a new position in Caterpillar during the fourth quarter valued at $31,000. Cornerstone Financial Management LLC bought a new position in Caterpillar during the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC increased its position in Caterpillar by 47.4% in the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAT. JPMorgan Chase & Co. upped their price target on Caterpillar from $1,125.00 to $1,165.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Citigroup boosted their price objective on Caterpillar from $905.00 to $1,020.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Zacks Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. Wall Street Zen upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, DA Davidson lifted their target price on shares of Caterpillar from $650.00 to $845.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $939.86.

Caterpillar Stock Performance

NYSE:CAT opened at $1,053.62 on Friday. The business’s fifty day moving average is $892.87 and its 200 day moving average is $753.39. The firm has a market cap of $485.28 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 1.96 and a beta of 1.59. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. Caterpillar Inc. has a 52-week low of $373.04 and a 52-week high of $1,057.07.

Caterpillar (NYSE:CAT) last issued 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. The business had revenue of $17.41 billion during the quarter, compared to the consensus estimate of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.25 EPS. Research analysts predict that Caterpillar Inc. will post 24.64 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio (DPR) is 30.06%.

More Caterpillar News

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

Insider Activity at Caterpillar

In other Caterpillar news, insider Denise C. Johnson sold 12,605 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 49,825 shares of the company’s stock, valued at $45,236,615.75. This trade represents a 20.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 15,674 shares of the company’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 in the company, valued at approximately $48,631,913.85. The trade was a 22.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 95,773 shares of company stock valued at $87,642,635 in the last quarter. 0.33% of the stock is currently owned by company insiders.

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.