Swedbank AB boosted its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 282,018 shares of the industrial products company's stock after acquiring an additional 11,487 shares during the quarter. Swedbank AB owned 0.06% of Caterpillar worth $110,303,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its stake in Caterpillar by 39,534.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company's stock valued at $8,356,930,000 after acquiring an additional 2,131,276 shares during the period. Altshuler Shaham Ltd raised its position in shares of Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company's stock worth $91,606,000 after purchasing an additional 266,969 shares during the last quarter. National Bank of Canada FI increased its stake in Caterpillar by 104.6% during the 2nd quarter. National Bank of Canada FI now owns 391,428 shares of the industrial products company's stock worth $128,768,000 after buying an additional 200,134 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Caterpillar by 28,321.2% during the second quarter. Strategic Financial Concepts LLC now owns 200,654 shares of the industrial products company's stock valued at $668,000 after acquiring an additional 199,948 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Caterpillar by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company's stock worth $702,431,000 after acquiring an additional 198,123 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 research analysts have weighed in on the company. UBS Group raised their price objective on Caterpillar from $285.00 to $295.00 and gave the company a "sell" rating in a report on Monday, November 4th. Barclays boosted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 7th. Morgan Stanley downgraded shares of Caterpillar from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $349.00 to $332.00 in a report on Monday, October 14th. Evercore ISI cut Caterpillar from an "in-line" rating to an "underperform" rating and boosted their target price for the stock from $321.00 to $365.00 in a report on Wednesday, November 13th. Finally, StockNews.com downgraded Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $365.33.
View Our Latest Stock Report on CAT
Insider Activity at Caterpillar
In related news, CAO William E. Schaupp sold 968 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 8.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,774 shares of company stock valued at $8,233,034 over the last 90 days. 0.29% of the stock is owned by corporate insiders.
Caterpillar Trading Up 2.1 %
Shares of NYSE CAT traded up $8.16 during trading on Monday, reaching $405.65. The stock had a trading volume of 4,396,269 shares, compared to its average volume of 2,603,828. The business's 50-day moving average price is $387.97 and its 200-day moving average price is $356.38. Caterpillar Inc. has a fifty-two week low of $246.01 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market cap of $195.85 billion, a P/E ratio of 18.81, a PEG ratio of 1.96 and a beta of 1.10.
Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to analysts' expectations of $16.37 billion. During the same quarter last year, the company earned $5.52 earnings per share. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts predict that Caterpillar Inc. will post 21.67 EPS for the current fiscal year.
Caterpillar Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st were given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, October 21st. Caterpillar's dividend payout ratio is presently 26.15%.
About Caterpillar
(
Free Report)
Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.
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