Forsta AP Fonden Reduces Position in Caterpillar Inc. (NYSE:CAT)

Key Points

• Forsta AP Fonden reduced its stake in Caterpillar Inc. by 2.4%, now holding 139,900 shares valued at approximately $46.1 million.
• Investment analysts have recently updated their ratings for Caterpillar, with a consensus rating of "Moderate Buy" and an average price target of $444.00.
• Caterpillar declared a quarterly dividend of $1.51, increased from the previous $1.41, reflecting a dividend yield of 1.4%.

Forsta AP Fonden trimmed its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,900 shares of the industrial products company's stock after selling 3,500 shares during the period. Forsta AP Fonden's holdings in Caterpillar were worth $46,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in shares of Caterpillar in the fourth quarter worth $33,000. Curat Global LLC purchased a new position in shares of Caterpillar in the first quarter worth $33,000. Redmont Wealth Advisors LLC purchased a new position in shares of Caterpillar in the first quarter worth $33,000. Quarry LP purchased a new position in shares of Caterpillar in the fourth quarter worth $35,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Caterpillar in the fourth quarter worth $36,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on CAT shares. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Evercore ISI reduced their target price on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $475.00 to $520.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Melius Research raised shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price for the company in a report on Wednesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of "Moderate Buy" and an average target price of $444.00.

Caterpillar Price Performance

Shares of CAT stock traded down $0.69 on Friday, reaching $416.43. 2,965,068 shares of the company were exchanged, compared to its average volume of 2,924,406. The company has a market cap of $195.09 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 2.46 and a beta of 1.40. The business has a 50-day moving average price of $393.37 and a 200 day moving average price of $355.47. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.77 and a current ratio of 1.34. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $441.15.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analysts' expectations 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 period in the prior year, the firm earned $5.99 EPS. Equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio is presently 30.72%.

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.