Forsta AP Fonden Raises Stake in Caterpillar Inc. (NYSE:CAT)

Forsta AP Fonden boosted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,800 shares of the industrial products company’s stock after buying an additional 7,200 shares during the quarter. Forsta AP Fonden’s holdings in Caterpillar were worth $55,852,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bbjs Financial Advisors LLC purchased a new stake in Caterpillar during the second quarter worth $28,000. Financial Connections Group Inc. acquired a new position in shares of Caterpillar during the second quarter worth $28,000. Fairman Group LLC acquired a new position in shares of Caterpillar during the first quarter worth $29,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar during the second quarter worth $36,000. Finally, POM Investment Strategies LLC increased its position in shares of Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 108 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Down 0.3 %

Shares of Caterpillar stock traded down $1.09 during trading on Friday, hitting $385.97. 1,606,883 shares of the stock were exchanged, compared to its average volume of 2,622,578. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $403.60. The stock has a market cap of $188.76 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78. The firm’s 50-day moving average price is $368.57 and its 200 day moving average price is $350.95.

Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.55 EPS. As a group, analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.46%. Caterpillar’s payout ratio is currently 25.46%.

Wall Street Analyst Weigh In

CAT has been the topic of a number of recent analyst reports. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays upped their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Bank of America upped their target price on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Raymond James started coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. upped their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $355.50.

Insiders Place Their Bets

In related news, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

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.