Danske Bank A S Purchases Shares of 221,027 Caterpillar Inc. $CAT

Danske Bank A S acquired a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 221,027 shares of the industrial products company’s stock, valued at approximately $105,463,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Caterpillar in the second quarter worth $2,165,899,000. Wellington Management Group LLP raised its holdings in shares of Caterpillar by 3,949.8% during the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after purchasing an additional 5,098,964 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Caterpillar by 1,851.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock worth $873,382,000 after purchasing an additional 1,736,631 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Caterpillar by 425.2% in the 2nd quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company’s stock valued at $295,738,000 after buying an additional 616,739 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Caterpillar by 20.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company’s stock valued at $1,695,757,000 after buying an additional 609,023 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Up 0.5%

Shares of NYSE:CAT opened at $703.53 on Wednesday. The business’s 50 day moving average is $697.19 and its 200 day moving average is $589.94. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $789.81. The stock has a market cap of $327.34 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 1.65 and a beta of 1.54. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The business had revenue of $19.13 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the business earned $5.14 EPS. The business’s revenue was up 17.9% on a year-over-year basis. On average, sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $575.06, for a total transaction of $5,750,600.00. Following the transaction, the chief financial officer owned 45,460 shares of the company’s stock, valued at $26,142,227.60. This trade represents a 18.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lange Bob De sold 22,656 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $720.11, for a total value of $16,314,812.16. Following the completion of the transaction, the insider owned 79,953 shares in the company, valued at $57,574,954.83. The trade was a 22.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 135,950 shares of company stock valued at $94,327,990 over the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Bank of America upped their price target on Caterpillar from $735.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Morgan Stanley upped their target price on Caterpillar from $400.00 to $425.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 3rd. Robert W. Baird set a $805.00 target price on Caterpillar in a report on Friday, January 30th. Truist Financial boosted their price target on shares of Caterpillar from $729.00 to $786.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Oppenheimer upped their price objective on shares of Caterpillar from $729.00 to $817.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Sixteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

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.