Summit Global Investments Buys New Position in Caterpillar Inc. $CAT

Summit Global Investments bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,673 shares of the industrial products company’s stock, valued at approximately $1,781,000.

A number of other institutional investors also recently made changes to their positions in CAT. Axxcess Wealth Management LLC raised its stake in shares of Caterpillar by 2.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company’s stock worth $12,844,000 after buying an additional 604 shares in the last quarter. DSG Capital Advisors LLC bought a new position in Caterpillar during the first quarter valued at about $1,226,000. Cornerstone Planning LLC acquired a new position in Caterpillar during the fourth quarter worth about $4,517,000. RiverFront Investment Group LLC raised its position in Caterpillar by 21.1% in the fourth quarter. RiverFront Investment Group LLC now owns 8,915 shares of the industrial products company’s stock worth $5,107,000 after acquiring an additional 1,552 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Caterpillar by 73.6% in the fourth quarter. Larson Financial Group LLC now owns 12,915 shares of the industrial products company’s stock worth $7,399,000 after acquiring an additional 5,476 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CAT shares. Wall Street Zen upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Argus increased their target price on shares of Caterpillar from $820.00 to $990.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Evercore restated an “outperform” rating and set a $1,103.00 target price on shares of Caterpillar in a report on Monday, May 11th. Robert W. Baird set a $970.00 price target on shares of Caterpillar in a research report on Wednesday, August 5th. Finally, Citigroup upped their price target on Caterpillar from $1,020.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar presently has a consensus rating of “Moderate Buy” and an average target price of $995.52.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Analysts point to solid earnings-estimate revisions and price momentum as reasons Caterpillar could continue higher. The company’s latest quarter also featured sharply higher revenue and earnings that exceeded consensus estimates, supporting the bullish case. Why Caterpillar Might Be Well Poised for a Surge
• Positive Sentiment: Caterpillar received approval in principle for a MaK dual-fuel conversion, potentially supporting its marine business and longer-term demand for lower-emission power solutions. Caterpillar Receives Approval for MaK Dual-Fuel Conversion
• Positive Sentiment: New-product exposure, including the TUL100 mini skid steer, and planned investment in an Indiana plant indicate continued attention to product development and manufacturing capacity. The company is also expanding its global headquarters, with filings showing project costs exceeding $50 million. Caterpillar Planning Indiana Plant Investment
• Neutral Sentiment: CEO Joe Creed is scheduled to participate in a Wells Fargo investor discussion on September 10. Commentary on demand trends, margins and the company’s outlook could provide a future catalyst, but no new financial guidance was announced. Caterpillar CEO to Participate in Wells Fargo Investor Discussion
• Neutral Sentiment: A multi-year sponsorship agreement with the University of Illinois raises Caterpillar’s brand visibility but is unlikely to materially affect near-term earnings. Caterpillar Illinois Sponsorship Agreement
• Negative Sentiment: At roughly 35 times earnings, Caterpillar’s valuation leaves less room for disappointment. Commentary also highlights the risk of an industrial slowdown, while a covered-call strategy article underscores investor concern about waiting through weaker conditions. Two Reasons to Like CAT and One to Stay Skeptical
• Negative Sentiment: A reported worker injury at Caterpillar’s Mapleton facility is a localized operational and reputational risk, although the available report does not indicate a broader business disruption. Worker Injured at Caterpillar Mapleton Facility

Caterpillar Price Performance

CAT stock opened at $817.99 on Friday. Caterpillar Inc. has a one year low of $410.52 and a one year high of $1,073.46. The firm has a 50-day moving average of $897.67 and a two-hundred day moving average of $837.40. The firm has a market capitalization of $376.01 billion, a PE ratio of 35.20, a P/E/G ratio of 1.44 and a beta of 1.60. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share 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 business had revenue of $20.54 billion for the quarter, compared to the consensus estimate of $19.34 billion. During the same period last year, the firm posted $4.72 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 27.14 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, July 20th. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio is presently 28.06%.

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.