Lansforsakringar Fondforvaltning AB publ Cuts Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its position in Caterpillar Inc. by 5.6%, holding 170,352 shares worth approximately $56.18 million as of the latest SEC filing.
• Several institutional investors have increased their stakes in Caterpillar; notable increases include a 43,447.3% rise by GAMMA Investing LLC and an 8.6% increase by UBS AM.
• Caterpillar recently announced a quarterly $1.51 dividend, raising its annualized dividend yield to 1.4%, and reported earnings of $4.72 per share for the last quarter, missing analyst estimates.

Lansforsakringar Fondforvaltning AB publ decreased its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 170,352 shares of the industrial products company's stock after selling 10,053 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Caterpillar were worth $56,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after buying an additional 3,721,693 shares during the period. Pacer Advisors Inc. increased its stake in Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock worth $466,430,000 after buying an additional 1,364,183 shares during the period. Nuveen LLC purchased a new position in Caterpillar in the 1st quarter worth about $391,788,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Caterpillar by 8.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after buying an additional 312,878 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Caterpillar in the 4th quarter worth about $108,958,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

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

Caterpillar Stock Down 3.5%

Shares of NYSE:CAT traded down $15.35 during trading on Monday, reaching $419.56. The stock had a trading volume of 3,669,497 shares, compared to its average volume of 3,232,065. The firm's 50-day simple moving average is $412.74 and its 200 day simple moving average is $360.23. The company has a market capitalization of $196.55 billion, a P/E ratio of 21.34, a PEG ratio of 2.53 and a beta of 1.41. 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 Inc. has a one year low of $267.30 and a one 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 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 business earned $5.99 earnings per share. As a group, research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Monday, July 21st were paid a $1.51 dividend. This is a boost 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 yield of 1.4%. Caterpillar's dividend payout ratio (DPR) is 30.72%.

Wall Street Analyst Weigh In

CAT has been the topic of several recent analyst reports. Bank of America raised their price target on shares of Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. increased 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, August 6th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Caterpillar in a report on Monday, July 14th. Finally, Robert W. Baird dropped their target price on shares of Caterpillar from $500.00 to $495.00 and set an "outperform" rating on the stock in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $455.53.

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.