Skandinaviska Enskilda Banken AB publ Sells 37,183 Shares of Caterpillar Inc. $CAT

Skandinaviska Enskilda Banken AB publ lessened its holdings in Caterpillar Inc. (NYSE:CAT) by 22.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 131,309 shares of the industrial products company’s stock after selling 37,183 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Caterpillar were worth $50,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Caterpillar in the second quarter worth approximately $2,165,899,000. Quadrature Capital Ltd purchased a new stake in shares of Caterpillar in the 2nd quarter worth $15,912,000. Scotia Capital Inc. lifted its holdings in shares of Caterpillar by 9.2% in the 2nd quarter. Scotia Capital Inc. now owns 79,116 shares of the industrial products company’s stock worth $30,713,000 after buying an additional 6,647 shares during the period. Level Four Advisory Services LLC grew its position in shares of Caterpillar by 2.4% during the 2nd quarter. Level Four Advisory Services LLC now owns 17,985 shares of the industrial products company’s stock worth $6,982,000 after buying an additional 426 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its stake in shares of Caterpillar by 1.3% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 3,789 shares of the industrial products company’s stock valued at $1,507,000 after buying an additional 50 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Up 1.1%

Shares of Caterpillar stock opened at $572.56 on Friday. The firm has a 50-day simple moving average of $528.23 and a two-hundred day simple moving average of $441.88. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.81 and a current ratio of 1.38. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $596.21. The company has a market cap of $267.95 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51.

Caterpillar (NYSE:CAT) last released its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $16.72 billion. During the same quarter in the previous year, the company earned $5.17 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, October 20th were given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, October 20th. Caterpillar’s dividend payout ratio is presently 31.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CAT shares. Robert W. Baird lifted their price objective on shares of Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a research report on Monday. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $660.00 in a research report on Wednesday, November 5th. DA Davidson raised their price objective on Caterpillar from $408.00 to $569.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Finally, Barclays boosted their target price on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Caterpillar currently has a consensus rating of “Moderate Buy” and a consensus target price of $610.32.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan purchased 300 shares of the stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the acquisition, the director owned 7,947 shares in the company, valued at $4,520,730.42. This trade represents a 3.92% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the transaction, the insider directly owned 41,512 shares of the company’s stock, valued at approximately $23,669,312.16. This trade represents a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 86,229 shares of company stock valued at $43,323,118 over the last 90 days. Corporate insiders own 0.33% 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.