Handelsbanken Fonder AB lowered its stake in Caterpillar Inc. (NYSE:CAT) by 23.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the industrial products company’s stock after selling 1,250 shares during the quarter. Handelsbanken Fonder AB’s holdings in Caterpillar were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jennison Associates LLC grew its stake in Caterpillar by 126.5% during the 4th quarter. Jennison Associates LLC now owns 5,951,370 shares of the industrial products company’s stock valued at $937,817,000 after acquiring an additional 3,324,051 shares in the last quarter. BlackRock Inc. grew its stake in Caterpillar by 6.5% during the 4th quarter. BlackRock Inc. now owns 37,565,629 shares of the industrial products company’s stock valued at $5,919,590,000 after acquiring an additional 2,297,750 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Caterpillar during the 4th quarter valued at about $148,604,000. CI Investments Inc. grew its stake in Caterpillar by 400,906.6% during the 4th quarter. CI Investments Inc. now owns 665,671 shares of the industrial products company’s stock valued at $104,896,000 after acquiring an additional 665,505 shares in the last quarter. Finally, Fred Alger Management Inc. purchased a new position in Caterpillar during the 4th quarter valued at about $103,179,000. 69.22% of the stock is currently owned by hedge funds and other institutional investors.
In related news, General Counsel Suzette M. Long sold 528 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $160.46, for a total value of $84,722.88. Following the completion of the sale, the general counsel now directly owns 19,646 shares in the company, valued at approximately $3,152,397.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas A. Pellette sold 95,199 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.09, for a total value of $15,526,004.91. Following the completion of the sale, the insider now owns 96,268 shares of the company’s stock, valued at $15,700,348.12. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 25th. The industrial products company reported $2.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.39. Caterpillar had a return on equity of 28.69% and a net margin of 1.66%. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.01 billion. During the same period in the previous year, the company earned $0.83 EPS. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. analysts predict that Caterpillar Inc. will post 9.1 earnings per share for the current year.
CAT has been the topic of several research analyst reports. UBS set a $155.00 target price on Caterpillar and gave the company a “buy” rating in a research note on Tuesday, December 5th. Vetr cut Caterpillar from a “hold” rating to a “sell” rating and set a $137.72 target price on the stock. in a research note on Thursday, December 7th. Barclays initiated coverage on Caterpillar in a research note on Tuesday, December 12th. They set an “overweight” rating and a $162.00 target price on the stock. OTR Global cut Caterpillar to a “positive” rating in a research note on Monday, December 18th. Finally, Citigroup lifted their target price on Caterpillar from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $170.40.
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Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through segments, including Construction Industries, which is engaged in supporting customers using machinery in infrastructure, forestry and building construction; Resource Industries, which is engaged in supporting customers using machinery in mining, quarry, waste and material handling applications; Energy & Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat machines; Financial Products segment, which provides financing and related services, and All Other operating segments, which includes activities, such as product management and development, and manufacturing of filters and fluids, undercarriage, tires and rims, ground engaging tools, fluid transfer products, and sealing and connecting components for Cat products.
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