Livforsakringsbolaget Skandia Omsesidigt Has $1,194,000 Position in Caterpillar, Inc. (CAT)
Livforsakringsbolaget Skandia Omsesidigt held its stake in Caterpillar, Inc. (NYSE:CAT) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,113 shares of the industrial products company’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Caterpillar were worth $1,194,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Caterpillar by 3.6% in the first quarter. Vanguard Group Inc. now owns 38,847,552 shares of the industrial products company’s stock worth $3,603,500,000 after buying an additional 1,342,984 shares during the last quarter. FMR LLC boosted its stake in shares of Caterpillar by 11.4% in the first quarter. FMR LLC now owns 17,561,361 shares of the industrial products company’s stock worth $1,628,992,000 after buying an additional 1,798,312 shares in the last quarter. Morgan Stanley boosted its stake in shares of Caterpillar by 15.1% in the first quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after buying an additional 1,365,856 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Caterpillar by 16.9% in the first quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company’s stock worth $673,351,000 after buying an additional 1,047,922 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Caterpillar by 8.1% in the first quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after buying an additional 419,191 shares in the last quarter. 69.22% of the stock is owned by hedge funds and other institutional investors.
Caterpillar, Inc. (NYSE:CAT) traded up 1.07% during midday trading on Tuesday, reaching $116.30. The company’s stock had a trading volume of 1,174,737 shares. Caterpillar, Inc. has a 52 week low of $79.93 and a 52 week high of $116.64. The company’s 50-day moving average is $112.00 and its 200 day moving average is $102.51. The firm has a market capitalization of $68.73 billion, a P/E ratio of 649.72 and a beta of 1.25.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts expect that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, August 19th. Investors of record on Thursday, July 20th were paid a dividend of $0.78 per share. The ex-dividend date was Tuesday, July 18th. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 2.71%. Caterpillar’s dividend payout ratio is currently 2,080.00%.
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A number of analysts have commented on CAT shares. Bank of America Corporation raised Caterpillar from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $105.00 to $120.00 in a research report on Thursday, May 11th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research report on Friday, June 16th. Zacks Investment Research cut Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Deutsche Bank AG cut Caterpillar from a “buy” rating to a “hold” rating and lowered their price target for the stock from $121.00 to $106.00 in a research report on Friday, June 23rd. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $123.00 price target on shares of Caterpillar in a research report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $106.20.
In related news, insider Suzette M. Long sold 13,859 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the sale, the insider now directly owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William A. Osborn sold 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,471 shares of company stock valued at $22,979,332. Company insiders own 0.15% of the company’s stock.
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