Handelsbanken Fonder AB Has $33.01 Million Position in Caterpillar Inc. (NYSE:CAT)

Handelsbanken Fonder AB raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,101 shares of the industrial products company's stock after acquiring an additional 2,779 shares during the quarter. Handelsbanken Fonder AB's holdings in Caterpillar were worth $33,013,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CAT. Proficio Capital Partners LLC lifted its position in Caterpillar by 38.3% during the 4th quarter. Proficio Capital Partners LLC now owns 2,218 shares of the industrial products company's stock worth $805,000 after acquiring an additional 614 shares during the period. Victrix Investment Advisors purchased a new stake in Caterpillar in the 4th quarter valued at approximately $2,090,000. Braun Stacey Associates Inc. increased its position in Caterpillar by 2.8% during the 4th quarter. Braun Stacey Associates Inc. now owns 34,837 shares of the industrial products company's stock worth $12,637,000 after purchasing an additional 963 shares during the period. Strategic Advisors LLC lifted its holdings in shares of Caterpillar by 14.6% in the 4th quarter. Strategic Advisors LLC now owns 5,724 shares of the industrial products company's stock valued at $2,076,000 after buying an additional 730 shares during the period. Finally, MFG Wealth Management Inc. purchased a new stake in shares of Caterpillar in the fourth quarter valued at approximately $2,308,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan acquired 375 shares of Caterpillar stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAT shares. Bank of America raised their target price on Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a report on Friday, May 30th. Robert W. Baird upgraded shares of Caterpillar from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $309.00 to $395.00 in a research report on Tuesday, May 13th. Morgan Stanley raised Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Citigroup raised their price objective on Caterpillar from $320.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their target price on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $372.92.

Caterpillar Stock Performance

NYSE CAT traded down $2.43 on Thursday, hitting $360.71. The stock had a trading volume of 715,414 shares, compared to its average volume of 2,582,765. Caterpillar Inc. has a one year low of $267.30 and a one year high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The stock has a market cap of $169.91 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.87 and a beta of 1.37. The company's 50-day moving average is $323.77 and its two-hundred day moving average is $349.29.

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 net margin of 16.65% and a return on equity of 58.18%. Caterpillar's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the business posted $5.60 earnings per share. On average, analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The company 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 dividend of $1.51 per share. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.67%. Caterpillar's payout ratio is presently 27.49%.

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.