Caterpillar Inc. $CAT Shares Bought by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 8,522.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,889 shares of the industrial products company’s stock after purchasing an additional 104,661 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Caterpillar were worth $85,853,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CAT. McKinney Capital Management LLC increased its stake in shares of Caterpillar by 3.4% during the third quarter. McKinney Capital Management LLC now owns 579 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 19 shares during the period. Cornerstone Advisory LLC lifted its position in Caterpillar by 2.3% in the third quarter. Cornerstone Advisory LLC now owns 1,928 shares of the industrial products company’s stock worth $1,563,000 after purchasing an additional 44 shares during the period. Wellington Grp LLC lifted its position in Caterpillar by 15.5% in the third quarter. Wellington Grp LLC now owns 2,104 shares of the industrial products company’s stock worth $1,706,000 after purchasing an additional 282 shares during the period. Bernicke Wealth Management Ltd. acquired a new stake in Caterpillar in the third quarter worth approximately $1,115,000. Finally, Channel Wealth LLC boosted its stake in Caterpillar by 9.6% during the 3rd quarter. Channel Wealth LLC now owns 1,116 shares of the industrial products company’s stock valued at $905,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

CAT has been the topic of several research analyst reports. Freedom Broker lowered their price target on Caterpillar from $980.00 to $800.00 and set a “buy” rating on the stock in a research report on Monday, November 2nd. Wells Fargo & Company dropped their price objective on Caterpillar from $1,155.00 to $840.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Weiss Ratings lowered Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 29th. DA Davidson decreased their target price on Caterpillar from $882.00 to $685.00 and set a “neutral” rating for the company in a research note on Monday, November 2nd. Finally, Zacks Research lowered Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Fifteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $898.25.

Caterpillar News Summary

These are some of the CAT news items that stood out recently:

• Positive Sentiment: Caterpillar ended the third quarter with a record $78 billion backlog, nearly double the year-earlier level. Strong orders across construction, mining and power generation offer revenue visibility, while capacity expansion and automation investments could help support growth. CAT’s Record $78B Backlog Signals Strength
• Positive Sentiment: Investor Kevin Simpson reportedly bought more CAT shares, a favorable sentiment signal, though the article does not provide the rationale or size of the purchase. Trade tracker: Kevin Simpson buys more Caterpillar
• Negative Sentiment: Michael Burry reportedly profited from a Caterpillar options trade and is maintaining the position, suggesting continued bearish bets. The article summary does not specify the position’s size or terms. Michael Burry just made a big move on Caterpillar stock

Caterpillar Trading Down 0.9%

CAT traded down $5.48 during trading on Friday, reaching $599.80. The company had a trading volume of 2,287,211 shares, compared to its average volume of 3,857,929. The firm’s 50-day simple moving average is $740.65 and its 200 day simple moving average is $805.20. The company has a market cap of $274.46 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.05 and a beta of 1.65. Caterpillar Inc. has a 12-month low of $537.08 and a 12-month high of $1,073.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.42.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, October 29th. The industrial products company reported $7.20 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $20.76 billion. During the same quarter in the previous year, the company earned $4.95 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 27.38 earnings per share for the current year.

Caterpillar Announces Dividend

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

Insider Transactions at Caterpillar

In other news, Director James C. Fish, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average price of $620.39 per share, with a total value of $620,390.00. Following the purchase, the director owned 4,714 shares of the company’s stock, valued at approximately $2,924,518.46. This trade represents a 26.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Maclennan acquired 350 shares of the stock in a transaction on Thursday, November 12th. The shares were purchased at an average price of $596.10 per share, for a total transaction of $208,635.00. Following the completion of the transaction, the director owned 8,773 shares in the company, valued at approximately $5,229,585.30. This represents a 4.16% increase in their position. The SEC filing for this purchase provides additional information. 0.33% of the stock is currently owned by insiders.

Caterpillar Company Profile

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.