BI Asset Management Fondsmaeglerselskab A S Has $35.17 Million Position in Caterpillar Inc. $CAT

Key Points

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BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 32.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,641 shares of the industrial products company's stock after selling 51,974 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Caterpillar were worth $35,170,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victrix Investment Advisors bought a new stake in shares of Caterpillar during the 4th quarter valued at approximately $2,090,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Caterpillar by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock valued at $1,089,798,000 after purchasing an additional 15,347 shares during the last quarter. Pacific Point Advisors LLC bought a new stake in shares of Caterpillar during the 4th quarter valued at approximately $579,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Caterpillar by 18.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 191,640 shares of the industrial products company's stock valued at $63,202,000 after purchasing an additional 30,070 shares during the last quarter. Finally, Crestwood Advisors Group LLC grew its holdings in shares of Caterpillar by 3.4% during the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock valued at $7,483,000 after purchasing an additional 743 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Up 4.1%

Shares of NYSE CAT traded up $17.1140 during midday trading on Friday, reaching $435.0040. The stock had a trading volume of 3,784,363 shares, compared to its average volume of 3,368,960. The firm has a market cap of $203.79 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The company's 50 day moving average price is $405.71 and its 200 day moving average price is $357.81.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $5.99 EPS. As a group, sell-side analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st were given a $1.51 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date was Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. Caterpillar's dividend payout ratio is presently 30.72%.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CAT shares. Citigroup boosted their target price on shares of Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Baird R W raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Robert W. Baird boosted their target price on shares of Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Oppenheimer boosted their target price on shares of Caterpillar from $395.00 to $483.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Evercore ISI raised shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $450.87.

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.