244,864 Shares in Caterpillar Inc. $CAT Purchased by Danske Bank A S

Key Points

• Danske Bank acquired 244,864 Caterpillar shares during the second quarter, worth approximately $260.8 million, while institutional investors collectively owned 70.98% of CAT.
• Caterpillar reported a strong quarter, with revenue rising 23.7% year over year to $20.54 billion and earnings per share of $8.17, well above analysts’ $6.22 estimate.
• The company raised its quarterly dividend to $1.63, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $995.52.

Danske Bank A S acquired a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 244,864 shares of the industrial products company's stock, valued at approximately $260,756,000. Danske Bank A S owned approximately 0.05% of Caterpillar at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CAT. Diversify Advisory Services LLC purchased a new position in shares of Caterpillar during the second quarter worth approximately $5,372,000. Gables Capital Management Inc. bought a new position in Caterpillar in the second quarter worth approximately $7,721,000. Brightwater Advisory LLC bought a new position in Caterpillar in the second quarter worth approximately $630,000. Oxbow Advisors LLC purchased a new position in Caterpillar during the 2nd quarter worth $5,949,000. Finally, Wealthfront Advisers LLC bought a new stake in Caterpillar during the 2nd quarter valued at $81,444,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Price Performance

CAT opened at $797.72 on Tuesday. The firm has a market capitalization of $366.69 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 1.40 and a beta of 1.60. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85. The business's 50-day moving average is $889.47 and its two-hundred day moving average is $838.20. Caterpillar Inc. has a 1 year low of $410.52 and a 1 year high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $19.34 billion. During the same period last year, the business earned $4.72 EPS. The company's revenue was up 23.7% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 27.14 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th were issued a $1.63 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, July 20th. Caterpillar's dividend payout ratio is presently 28.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein reissued a "market perform" rating and set a $1,002.00 price target on shares of Caterpillar in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price objective on Caterpillar from $1,050.00 to $1,155.00 and gave the company an "overweight" rating in a report on Tuesday, June 23rd. Weiss Ratings upgraded shares of Caterpillar from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 19th. Zacks Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Finally, Oppenheimer restated an "outperform" rating and issued a $1,118.00 price target on shares of Caterpillar in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and an average price target of $995.52.

Key Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: July durable-goods orders rose 1.1%, suggesting a manufacturing rebound that could support demand for Caterpillar’s construction, mining and industrial equipment. CAT was identified as one of several industrial stocks positioned to benefit. 4 Industrial Stocks to Grab on Robust Jump in Durable Goods Orders
• Positive Sentiment: Erste Group Bank reportedly expects stronger earnings for Caterpillar, adding to the constructive analyst outlook surrounding the company. Erste Group Bank Predicts Stronger Earnings for Caterpillar
• Positive Sentiment: Caterpillar’s power-generation business is benefiting from rising electricity demand tied to data centers and artificial intelligence. Recent coverage points to a first-ever quarterly sales total above $20 billion and identifies power generation as an increasingly important growth engine. Forget the Industry Labels: Chevron and Caterpillar Are Both Betting on the AI Power Boom
• Positive Sentiment: The company is applying its autonomous-mining expertise to industrial AI deployment, including field-support tools such as the Cat AI Assistant. Caterpillar also committed $100 million to AI and robotics workforce training, which could improve productivity and strengthen its technology positioning. Caterpillar Commits $100 Million to AI and Robotics Training
• Neutral Sentiment: Wall Street’s average brokerage recommendation remains bullish, but the coverage notes that sell-side ratings are often overly optimistic and may have limited predictive value for CAT’s performance. Is Caterpillar a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: At a high earnings multiple, Caterpillar is increasingly being valued like a technology-growth company. That raises the risk of pressure on the stock if AI-related growth, power-equipment demand or earnings forecasts fail to exceed expectations. How AI Power Demand Transformed Caterpillar into a High-Multiple Tech Play

About Caterpillar

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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