Caterpillar Inc. $CAT Shares Purchased by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Caterpillar Inc. by 0.7% in the 2nd quarter, holding 631,379 shares worth approximately $244.36 million.
• Caterpillar's shares are currently priced at $541.28, with a 12-month high of $544.99 and a low of $267.30.
• The company declared a quarterly dividend of $1.51, which will be paid on November 20th and represents a yield of 1.1%.

Nordea Investment Management AB increased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 631,379 shares of the industrial products company's stock after purchasing an additional 4,637 shares during the period. Nordea Investment Management AB owned 0.13% of Caterpillar worth $244,363,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Family Legacy Financial Solutions LLC acquired a new position in Caterpillar in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new position in Caterpillar in the 2nd quarter valued at $34,000. Compass Financial Services Inc raised its holdings in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 31 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Caterpillar in the 1st quarter valued at $33,000. Finally, Maseco LLP acquired a new position in Caterpillar in the 2nd quarter valued at $45,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Up 1.4%

Shares of NYSE CAT opened at $541.28 on Friday. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $544.99. The company has a market cap of $253.58 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.27 and a beta of 1.46. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The stock has a fifty day moving average price of $451.16 and a 200 day moving average price of $389.18.

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

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar's dividend payout ratio is currently 30.72%.

Analyst Upgrades and Downgrades

CAT has been the subject of several analyst reports. Jefferies Financial Group boosted their price target on Caterpillar from $500.00 to $570.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Caterpillar from $505.00 to $650.00 and gave the stock an "overweight" rating in a report on Tuesday. Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price objective for the company in a report on Tuesday, August 19th. Barclays upped their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Sanford C. Bernstein upped their price objective on Caterpillar from $447.00 to $502.00 and gave the stock a "market perform" rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $506.60.

Insider Activity at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the company's stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $505.29, for a total value of $8,673,808.14. Following the completion of the transaction, the chairman directly owned 448,173 shares of the company's stock, valued at $226,457,335.17. This represents a 3.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 2,324 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares of the company's stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,985 shares of company stock worth $25,559,300. Corporate 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.

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