Tredje AP fonden Sells 168,758 Shares of Caterpillar Inc. (NYSE:CAT)

Tredje AP fonden reduced its holdings in Caterpillar Inc. (NYSE:CAT) by 71.8% in the second quarter, HoldingsChannel reports. The firm owned 66,290 shares of the industrial products company’s stock after selling 168,758 shares during the period. Tredje AP fonden’s holdings in Caterpillar were worth $22,081,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CAT. Southland Equity Partners LLC grew its position in shares of Caterpillar by 4.0% in the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 30 shares in the last quarter. Davis Investment Partners LLC grew its position in Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock valued at $541,000 after acquiring an additional 30 shares during the last quarter. Private Trust Co. NA raised its position in Caterpillar by 0.3% in the 1st quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock worth $3,919,000 after purchasing an additional 30 shares during the period. Hilltop National Bank increased its holdings in shares of Caterpillar by 1.2% in the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after buying an additional 31 shares during the period. Finally, Exchange Capital Management Inc. lifted its position in Caterpillar by 3.3% in the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CAT. Truist Financial reiterated a “buy” rating and set a $399.00 target price (up from $390.00) on shares of Caterpillar in a report on Wednesday, August 7th. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. UBS Group increased their price target on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Finally, Bank of America decreased their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $336.31.

Insider Activity at Caterpillar

In related news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Cheryl H. Johnson sold 1,508 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now owns 18,515 shares of the company’s stock, valued at $6,480,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 7,668 shares of company stock worth $2,665,760. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 1.7 %

Caterpillar stock opened at $353.81 on Wednesday. The firm has a market capitalization of $173.03 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 1.56 and a beta of 1.10. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The firm has a 50 day moving average of $341.63 and a 200 day moving average of $344.27. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $5.55 EPS. As a group, research analysts predict that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar announced that its board has approved a stock buyback plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.