Handelsbanken Fonder AB Acquires 5,178 Shares of Caterpillar Inc. (NYSE:CAT)

Handelsbanken Fonder AB boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,322 shares of the industrial products company’s stock after acquiring an additional 5,178 shares during the quarter. Handelsbanken Fonder AB’s holdings in Caterpillar were worth $35,305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Alliance increased its position in shares of Caterpillar by 15.2% in the fourth quarter. Wealth Alliance now owns 1,632 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 215 shares during the last quarter. Sunpointe LLC increased its holdings in shares of Caterpillar by 489.6% in the 4th quarter. Sunpointe LLC now owns 5,029 shares of the industrial products company’s stock worth $1,824,000 after buying an additional 4,176 shares during the last quarter. LMG Wealth Partners LLC raised its position in shares of Caterpillar by 0.7% during the 4th quarter. LMG Wealth Partners LLC now owns 9,892 shares of the industrial products company’s stock valued at $3,588,000 after buying an additional 68 shares in the last quarter. Corps Capital Advisors LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $1,830,000. Finally, Abacus Planning Group Inc. grew its position in Caterpillar by 1.0% in the fourth quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company’s stock worth $1,051,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

CAT has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Truist Financial dropped their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Morgan Stanley decreased their price target on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Evercore ISI boosted their price objective on shares of Caterpillar from $365.00 to $375.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, Jefferies Financial Group increased their target price on shares of Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and an average price target of $383.80.

Caterpillar Stock Down 1.2 %

NYSE CAT opened at $348.84 on Friday. Caterpillar Inc. has a 1 year low of $307.05 and a 1 year high of $418.50. The stock has a market capitalization of $166.72 billion, a PE ratio of 15.81, a PEG ratio of 1.89 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The business’s 50-day moving average is $370.18 and its 200 day moving average is $372.40.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were given a $1.41 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.62%. Caterpillar’s dividend payout ratio is 25.56%.

Insider Activity

In other Caterpillar news, insider Anthony D. Fassino sold 6,279 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the completion of the sale, the insider now directly owns 33,565 shares in the company, valued at $13,714,323.35. This trade represents a 15.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the transaction, the chief financial officer now owns 45,182 shares in the company, valued at $17,173,226.38. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,704 shares of company stock valued at $7,226,584. Corporate insiders own 0.29% of the company’s stock.

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.