Swedbank AB lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 334,218 shares of the industrial products company's stock after buying an additional 52,590 shares during the period. Swedbank AB owned about 0.07% of Caterpillar worth $110,225,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after buying an additional 7,125 shares in the last quarter. Victrix Investment Advisors bought a new position in shares of Caterpillar in the fourth quarter worth approximately $2,090,000. Ransom Advisory Ltd bought a new position in shares of Caterpillar in the first quarter worth approximately $427,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after buying an additional 15,347 shares in the last quarter. Finally, Pacific Point Advisors LLC bought a new position in shares of Caterpillar in the fourth quarter worth approximately $579,000. Institutional investors own 70.98% of the company's stock.
Insider Activity at Caterpillar
In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction dated 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 sale, the chairman owned 482,505 shares of the company's stock, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock worth $8,943,642 in the last 90 days. 0.33% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports 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 research note on Wednesday, July 9th. Melius upgraded shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Bank of America increased their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Oppenheimer lowered their price objective on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Two 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $460.20.
Read Our Latest Research Report on CAT
Caterpillar Price Performance
Shares of NYSE CAT traded up $13.82 during midday trading on Thursday, reaching $464.48. The stock had a trading volume of 2,087,993 shares, compared to its average volume of 2,732,577. The stock has a 50-day moving average of $422.81 and a 200-day moving average of $367.22. The company has a market capitalization of $217.60 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 2.68 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $466.61.
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 the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $5.99 EPS. As a group, research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.
About Caterpillar
(
Free Report)
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.
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