Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Position in Caterpillar Inc. (NYSE:CAT)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Caterpillar Inc. (NYSE:CAT) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,846 shares of the industrial products company’s stock after buying an additional 1,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Caterpillar were worth $33,589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp grew its stake in Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock valued at $2,483,937,000 after purchasing an additional 724,477 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Caterpillar by 8.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company’s stock valued at $1,429,416,000 after purchasing an additional 312,878 shares during the period. GAMMA Investing LLC grew its stake in Caterpillar by 43,447.3% in the 1st quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company’s stock valued at $1,230,239,000 after purchasing an additional 3,721,693 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Caterpillar by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company’s stock valued at $1,089,798,000 after purchasing an additional 15,347 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Caterpillar by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company’s stock valued at $1,064,951,000 after purchasing an additional 268,300 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Shares of NYSE CAT opened at $413.67 on Thursday. The stock has a market cap of $193.80 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 2.46 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $441.15. The stock’s 50-day moving average is $397.18 and its 200 day moving average is $355.91.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $5.99 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a $1.51 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.5%. Caterpillar’s payout ratio is presently 30.72%.

Analysts Set New Price Targets

CAT has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Caterpillar from $460.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. upped their price objective on Caterpillar from $475.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Evercore ISI cut their price target on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research note on Monday, May 19th. Truist Financial increased their price target on Caterpillar from $414.00 to $507.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Barclays increased their price target on Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Caterpillar has an average rating of “Moderate Buy” and a consensus target price of $444.00.

Insider Buying and Selling

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Caterpillar Company 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.