Skandinaviska Enskilda Banken AB publ lowered its stake in Caterpillar Inc. (NYSE:CAT) by 5.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,792 shares of the industrial products company’s stock after selling 5,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Caterpillar were worth $15,217,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Jennison Associates LLC lifted its position in shares of Caterpillar by 5.4% in the second quarter. Jennison Associates LLC now owns 6,442,611 shares of the industrial products company’s stock worth $874,069,000 after buying an additional 327,470 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Caterpillar by 7.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,239,504 shares of the industrial products company’s stock worth $303,834,000 after purchasing an additional 145,707 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Caterpillar by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,147,234 shares of the industrial products company’s stock worth $291,325,000 after purchasing an additional 151,960 shares during the period. Swiss National Bank increased its stake in shares of Caterpillar by 3.5% in the second quarter. Swiss National Bank now owns 1,976,016 shares of the industrial products company’s stock worth $268,086,000 after purchasing an additional 67,200 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Caterpillar by 23.6% in the second quarter. Janus Henderson Group PLC now owns 1,957,489 shares of the industrial products company’s stock worth $265,581,000 after purchasing an additional 374,038 shares during the period. 66.56% of the stock is owned by institutional investors.
Shares of CAT opened at $126.91 on Friday. Caterpillar Inc. has a 12-month low of $112.06 and a 12-month high of $173.24. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a market cap of $79.72 billion, a P/E ratio of 18.45, a PEG ratio of 0.74 and a beta of 1.58.
Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Caterpillar had a return on equity of 44.13% and a net margin of 7.13%. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $13.28 billion. During the same period in the previous year, the company posted $1.95 earnings per share. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. Analysts anticipate that Caterpillar Inc. will post 11.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be paid a dividend of $0.86 per share. The ex-dividend date is Friday, October 19th. This represents a $3.44 annualized dividend and a yield of 2.71%. Caterpillar’s dividend payout ratio is 50.00%.
A number of research firms have recently commented on CAT. ValuEngine upgraded Caterpillar from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Stifel Nicolaus dropped their price objective on Caterpillar from $168.00 to $142.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Daiwa Capital Markets set a $120.00 price objective on Caterpillar and gave the stock a “hold” rating in a research note on Thursday, October 25th. DZ Bank upgraded Caterpillar to a “hold” rating and dropped their price objective for the stock from $127.00 to $119.00 in a research note on Wednesday, October 24th. Finally, UBS Group upgraded Caterpillar from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Caterpillar presently has a consensus rating of “Buy” and an average price target of $158.55.
In other Caterpillar news, insider Denise C. Johnson sold 35,051 shares of Caterpillar stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total transaction of $5,404,163.18. Following the sale, the insider now directly owns 22,826 shares of the company’s stock, valued at $3,519,312.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De acquired 1,080 shares of the firm’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $115.58 per share, for a total transaction of $124,826.40. Following the completion of the acquisition, the insider now directly owns 11,310 shares of the company’s stock, valued at approximately $1,307,209.80. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
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Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.
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