Livforsakringsbolaget Skandia Omsesidigt Boosts Stake in Caterpillar Inc. $CAT

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Caterpillar Inc. by 3.1% during the second quarter, owning 23,252 shares valued at about $9 million.
• Insiders at Caterpillar sold a significant amount of stock recently, with Jason Kaiser and Susan C. Schwab reducing their holdings by over 20% in their respective transactions.
• Analyst ratings for Caterpillar show a strong positive sentiment, with most firms assigning Buy or Strong Buy ratings and various price target upgrades.

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,252 shares of the industrial products company's stock after purchasing an additional 700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Caterpillar were worth $9,023,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Compass Financial Services Inc increased its holdings in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after buying an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Caterpillar in the 2nd quarter worth about $32,000. Investment Management Corp VA ADV bought a new stake in shares of Caterpillar in the 4th quarter worth about $33,000. Curat Global LLC bought a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Caterpillar in the 1st quarter worth about $33,000. 70.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on CAT shares. 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. Truist Financial upped their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Bank of America upped their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a report on Monday. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price target on the stock in a report on Wednesday, July 9th. Finally, Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target on the stock in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $464.33.

Insider Activity at Caterpillar

In related news, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman owned 482,505 shares of the company's stock, valued at $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares of the company's stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock valued at $8,943,642 over the last 90 days. Insiders own 0.33% of the company's stock.

Caterpillar Stock Up 0.6%

NYSE:CAT traded up $3.03 during midday trading on Tuesday, reaching $475.13. 1,904,533 shares of the stock traded hands, compared to its average volume of 2,755,585. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $485.34. The business has a 50-day moving average of $426.53 and a two-hundred day moving average of $370.38. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The stock has a market capitalization of $222.59 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.84 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same period in the previous year, the company earned $5.99 EPS. The company's revenue was down .7% on a year-over-year basis. On average, equities analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

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.