Fjarde AP Fonden Fourth Swedish National Pension Fund Has $33.59 Million Holdings in Caterpillar Inc. (NYSE:CAT)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Caterpillar Inc. by 1.4%, holding 101,846 shares valued at approximately $33.6 million.
• Caterpillar recently declared a $1.51 quarterly dividend, up from $1.41, with an annualized yield of 1.5% and a payout ratio of 30.72%.
• Analysts have set new price targets for Caterpillar, with Citigroup and JPMorgan Chase & Co. increasing theirs to $500.00 and $520.00, respectively, reflecting a general bullish outlook.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,846 shares of the industrial products company's stock after purchasing an additional 1,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Caterpillar were worth $33,589,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CAT. Pacific Point Advisors LLC bought a new position in Caterpillar during the fourth quarter worth $579,000. Brighton Jones LLC lifted its stake in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares during the last quarter. Cohen & Steers Inc. lifted its stake in Caterpillar by 22.0% in the fourth quarter. Cohen & Steers Inc. now owns 921 shares of the industrial products company's stock valued at $334,000 after buying an additional 166 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in Caterpillar by 8.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 588 shares of the industrial products company's stock valued at $213,000 after buying an additional 48 shares during the last quarter. Finally, Acorns Advisers LLC lifted its stake in Caterpillar by 33.3% in the fourth quarter. Acorns Advisers LLC now owns 797 shares of the industrial products company's stock valued at $289,000 after buying an additional 199 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAT has been the topic of a number of recent research reports. Citigroup raised their target price on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Barclays raised their target price on Caterpillar from $383.00 to $425.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised their target price on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Truist Financial raised their target price on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Evercore ISI cut 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 analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Caterpillar presently has an average rating of "Moderate Buy" and an average price target of $444.00.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Caterpillar Price Performance

NYSE:CAT traded down $10.09 during mid-day trading on Friday, reaching $407.41. 3,105,803 shares of the stock were exchanged, compared to its average volume of 3,164,488. The business has a fifty day moving average price of $399.63 and a 200 day moving average price of $355.92. The firm has a market capitalization of $190.86 billion, a PE ratio of 20.72, a PEG ratio of 2.43 and a beta of 1.40. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last released its 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 for 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%. Caterpillar's revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $5.99 earnings per share. Research analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

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

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.