Andra AP fonden Sells 15,700 Shares of Caterpillar Inc. $CAT

Andra AP fonden cut its holdings in Caterpillar Inc. (NYSE:CAT) by 75.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,200 shares of the industrial products company’s stock after selling 15,700 shares during the period. Andra AP fonden’s holdings in Caterpillar were worth $2,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mid American Wealth Advisory Group Inc. bought a new position in shares of Caterpillar in the 2nd quarter valued at approximately $28,000. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar during the second quarter worth approximately $32,000. Harbor Asset Planning Inc. acquired a new position in Caterpillar during the second quarter valued at approximately $34,000. Compass Financial Services Inc lifted its stake in shares of Caterpillar by 49.2% in the first 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. Finally, Maseco LLP bought a new stake in shares of Caterpillar during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Trading Down 1.2%

CAT stock opened at $562.82 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.34. The firm has a market cap of $263.39 billion, a P/E ratio of 28.89, a P/E/G ratio of 3.33 and a beta of 1.51. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $596.21. The business’s 50 day moving average is $491.77 and its 200-day moving average is $418.73.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $16.72 billion. During the same quarter in the previous year, the firm earned $5.17 EPS. Caterpillar’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is currently 31.01%.

Analysts Set New Price Targets

Several research analysts recently commented on CAT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a report on Tuesday, October 14th. Truist Financial reaffirmed a “buy” rating and issued a $729.00 price target (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Bank of America raised their target price on Caterpillar from $594.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Royal Bank Of Canada initiated coverage on Caterpillar in a report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target for the company. Finally, Barclays raised their price objective on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $596.59.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. This represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 71,823 shares of company stock valued at $34,477,790. 0.33% of the stock is owned by company insiders.

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.