Caterpillar Inc. (NYSE:CAT) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ sold 127,996 shares of Caterpillar Inc., reducing its holdings by 43.2% to 168,492 shares, valued at approximately $55.57 million.
• Several institutional investors, including Geode Capital Management and Northern Trust Corp, increased their positions in Caterpillar during the previous quarter.
• Caterpillar has increased its quarterly dividend from $1.41 to $1.51 per share, representing an annual dividend yield of 1.41% as of the upcoming payment date.

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 43.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 168,492 shares of the industrial products company's stock after selling 127,996 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Caterpillar were worth $55,569,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. McIlrath & Eck LLC increased its position in Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after purchasing an additional 30 shares during the last quarter. Asset Management Group Inc. grew its stake in shares of Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock valued at $3,907,000 after buying an additional 32 shares during the period. Summit X LLC grew its stake in shares of Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after buying an additional 32 shares during the period. Dunhill Financial LLC increased its holdings in shares of Caterpillar by 21.3% during the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after buying an additional 36 shares during the last quarter. Finally, Silvia Mccoll Wealth Management LLC raised its position in shares of Caterpillar by 2.1% in the 1st quarter. Silvia Mccoll Wealth Management LLC now owns 1,752 shares of the industrial products company's stock worth $578,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

Caterpillar Stock Up 1.1%

NYSE CAT traded up $4.55 during mid-day trading on Friday, reaching $434.07. 2,207,764 shares of the company's stock traded hands, compared to its average volume of 2,516,496. The company has a fifty day simple moving average of $377.02 and a 200-day simple moving average of $351.82. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $434.87. The company has a market cap of $204.47 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.71 and a beta of 1.38. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company's revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.60 earnings per share. As a group, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's payout ratio is currently 29.43%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Caterpillar from $395.00 to $475.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley upgraded Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $300.00 to $283.00 in a report on Wednesday, April 16th. Robert W. Baird raised their price target on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a report on Friday, June 20th. DA Davidson boosted their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Citigroup reissued a "buy" rating and issued a $420.00 price objective (up previously from $370.00) on shares of Caterpillar in a research report on Tuesday, June 24th. 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $419.33.

Insider Transactions at Caterpillar

In other news, Director David Maclennan bought 375 shares of the firm's 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 owned 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by insiders.

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.