Skandinaviska Enskilda Banken AB publ Increases Holdings in Caterpillar Inc. (NYSE:CAT)

Skandinaviska Enskilda Banken AB publ boosted its position in Caterpillar Inc. (NYSE:CAT) by 19.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 234,112 shares of the industrial products company’s stock after buying an additional 37,554 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Caterpillar were worth $77,983,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Acadian Asset Management LLC boosted its position in Caterpillar by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after purchasing an additional 1,327 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Caterpillar in the first quarter valued at about $926,000. Natixis Advisors LLC increased its stake in shares of Caterpillar by 3.5% during the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock worth $92,688,000 after purchasing an additional 9,321 shares in the last quarter. Bailard Inc. raised its position in shares of Caterpillar by 3.1% during the 2nd quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock worth $4,475,000 after purchasing an additional 398 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Caterpillar in the 4th quarter worth about $222,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

CAT opened at $373.41 on Friday. The stock’s 50-day moving average price is $343.01 and its 200 day moving average price is $344.54. Caterpillar Inc. has a 12-month low of $223.76 and a 12-month high of $382.01. The firm has a market cap of $182.62 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.56 and a beta of 1.10. 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 earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same period in the prior year, the firm earned $5.55 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar announced that its board has approved a share buyback program on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

CAT has been the topic of a number of research reports. Citigroup started coverage on Caterpillar in a report on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price objective on the stock. Bank of America decreased their price target on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Truist Financial reissued a “buy” rating and issued a $399.00 target price (up from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. Raymond James began coverage on Caterpillar in a report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Evercore ISI lowered their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and an average target price of $336.31.

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.