Handelsbanken Fonder AB Grows Stock Position in Caterpillar Inc. $CAT

Handelsbanken Fonder AB lifted its stake in Caterpillar Inc. (NYSE:CAT) by 59.6% during the second quarter, Holdings Channel reports. The institutional investor owned 205,152 shares of the industrial products company’s stock after acquiring an additional 76,641 shares during the quarter. Caterpillar makes up approximately 0.6% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 29th largest position. Handelsbanken Fonder AB’s holdings in Caterpillar were worth $218,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lam Group Inc. acquired a new position in Caterpillar in the first quarter valued at approximately $26,000. Torren Management LLC acquired a new stake in shares of Caterpillar during the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC increased its holdings in shares of Caterpillar by 220.0% during the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 33 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $32,000. Finally, Matrix Trust Co lifted its stake in shares of Caterpillar by 93.8% in the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 15 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Trading Down 0.7%

Shares of CAT stock opened at $836.29 on Tuesday. The stock’s fifty day moving average is $920.45 and its two-hundred day moving average is $821.82. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. The firm has a market capitalization of $384.42 billion, a P/E ratio of 35.98, a PEG ratio of 1.52 and a beta of 1.60. Caterpillar Inc. has a fifty-two week low of $405.46 and a fifty-two week high of $1,073.46.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.72 earnings per share. Research analysts expect that Caterpillar Inc. will post 26.3 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be issued a $1.63 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, July 20th. Caterpillar’s payout ratio is 28.06%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CAT shares. Erste Group Bank cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Monday, July 27th. JPMorgan Chase & Co. increased their target price on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. UBS Group raised their target price on Caterpillar from $900.00 to $925.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Zacks Research cut Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Bank of America increased their price target on Caterpillar from $930.00 to $989.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $995.52.

Insider Activity at Caterpillar

In other Caterpillar news, CAO William E. Schaupp sold 360 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $906.00, for a total value of $326,160.00. Following the completion of the sale, the chief accounting officer directly owned 530 shares of the company’s stock, valued at $480,180. This trade represents a 40.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the transaction, the insider directly owned 49,825 shares in the company, valued at approximately $45,236,615.75. The trade was a 20.19% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 19,161 shares of company stock valued at $17,407,424. Insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.