Swedbank AB Has $110.30 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Swedbank AB raised its position in Caterpillar Inc. (NYSE:CAT) by 4.2% during the third quarter, Holdings Channel reports. The firm owned 282,018 shares of the industrial products company’s stock after purchasing an additional 11,487 shares during the period. Swedbank AB’s holdings in Caterpillar were worth $110,303,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. bought a new position in Caterpillar during the second quarter worth $28,000. Capital Performance Advisors LLP acquired a new stake in Caterpillar in the third quarter worth $36,000. Fairscale Capital LLC acquired a new position in shares of Caterpillar during the second quarter valued at about $36,000. Finally, POM Investment Strategies LLC boosted its position in shares of Caterpillar by 2,160.0% during the 2nd 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 and hedge funds.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research analyst reports. Truist Financial boosted their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America upped their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Citigroup decreased their price target on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $349.00 to $332.00 in a research report on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $365.33.

Caterpillar Trading Up 2.0 %

NYSE:CAT opened at $397.49 on Monday. Caterpillar Inc. has a 52 week low of $246.01 and a 52 week high of $418.50. The firm has a 50-day moving average price of $386.81 and a two-hundred day moving average price of $356.00. The firm has a market cap of $191.91 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.52 earnings per share. On average, equities analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, October 21st. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Insider Activity at Caterpillar

In other news, CAO William E. Schaupp sold 968 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 36.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,774 shares of company stock worth $8,233,034. 0.29% of the stock is owned by company insiders.

Caterpillar 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.