Alecta Tjanstepension Omsesidigt Acquires 197,000 Shares of Caterpillar Inc. (NYSE:CAT)

Alecta Tjanstepension Omsesidigt raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 149.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 328,600 shares of the industrial products company's stock after purchasing an additional 197,000 shares during the quarter. Alecta Tjanstepension Omsesidigt owned about 0.07% of Caterpillar worth $108,402,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in shares of Caterpillar in the 4th quarter valued at $33,000. Curat Global LLC acquired a new position in shares of Caterpillar in the 1st quarter worth approximately $33,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar during the first quarter valued at approximately $33,000. Quarry LP acquired a new position in Caterpillar in the fourth quarter worth approximately $35,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $36,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CAT shares. Barclays upped their price target on Caterpillar from $335.00 to $383.00 and gave the stock an "equal weight" rating in a research report on Monday. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $300.00 to $283.00 in a research note on Wednesday, April 16th. Truist Financial upped their price target on shares of Caterpillar from $396.00 to $414.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Evercore ISI lowered their price objective on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

Insiders Place Their Bets

In related news, Director David Maclennan purchased 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the transaction, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

Caterpillar Price Performance

Shares of CAT traded up $7.16 during trading hours on Tuesday, reaching $417.23. The stock had a trading volume of 2,183,930 shares, compared to its average volume of 2,503,707. The stock has a market capitalization of $196.53 billion, a PE ratio of 20.33, a PEG ratio of 2.72 and a beta of 1.38. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $419.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32. The company's 50-day moving average is $369.61 and its two-hundred day moving average is $349.62.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. Caterpillar's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $5.60 EPS. Research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is currently 29.43%.

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.