Alecta Tjanstepension Omsesidigt Purchases New Position in Caterpillar Inc. (NYSE:CAT)

Alecta Tjanstepension Omsesidigt purchased a new position in shares of Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 131,600 shares of the industrial products company’s stock, valued at approximately $47,762,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in shares of Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after buying an additional 10,212 shares in the last quarter. West Wealth Group LLC acquired a new stake in Caterpillar in the 4th quarter valued at about $230,000. Citizens Financial Group Inc. RI boosted its holdings in shares of Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after purchasing an additional 4,181 shares during the last quarter. Cadinha & Co. LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $11,084,000. Finally, Atomi Financial Group Inc. boosted its stake in Caterpillar by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after buying an additional 871 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Price Performance

CAT opened at $342.55 on Thursday. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40. The firm has a market cap of $163.72 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.87 and a beta of 1.12. The company has a fifty day simple moving average of $366.82 and a 200 day simple moving average of $372.88.

Caterpillar (NYSE:CAT) last announced its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, January 21st were paid a $1.41 dividend. The ex-dividend date was Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.65%. Caterpillar’s dividend payout ratio (DPR) is presently 25.56%.

Analyst Upgrades and Downgrades

CAT has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their target price on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Robert W. Baird increased their target price on shares of Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Bank of America cut their price objective on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Truist Financial reduced their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $383.80.

Insider Activity at Caterpillar

In other Caterpillar news, insider Jason Kaiser sold 2,425 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares in the company, valued at approximately $13,714,323.35. This trade represents a 15.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,704 shares of company stock valued at $7,226,584 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

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.