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

Tredje AP fonden decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 71.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CAT. Gilbert & Cook Inc. increased its stake in shares of Caterpillar by 3.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock worth $1,496,000 after purchasing an additional 192 shares during the period. 9258 Wealth Management LLC increased its position in Caterpillar by 1.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock worth $1,135,000 after buying an additional 55 shares during the period. Rollins Financial boosted its position in shares of Caterpillar by 49.1% in the fourth quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock valued at $1,891,000 after acquiring an additional 2,107 shares during the period. Gryphon Financial Partners LLC grew its stake in shares of Caterpillar by 6.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock valued at $420,000 after acquiring an additional 92 shares in the last quarter. Finally, Sachetta LLC bought a new position in Caterpillar during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, Director Gerald Johnson acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $338.59 per share, for a total transaction 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 approximately $962,272.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 33,442 shares in the company, valued at $11,750,181.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson purchased 100 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 7,668 shares of company stock valued at $2,665,760. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Barclays lifted their price objective on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Citigroup began coverage on Caterpillar in a report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price on the stock. Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Raymond James started coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $336.31.

Caterpillar Price Performance

Shares of CAT opened at $353.81 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The stock has a market cap of $173.03 billion, a PE ratio of 15.97, a PEG 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 business has a 50-day simple moving average of $341.63 and a two-hundred day simple moving average of $344.27.

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

Caterpillar announced that its board has authorized a stock buyback program on Wednesday, June 12th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership 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.