Danske Bank A S Invests $105.46 Million in Caterpillar Inc. $CAT

Danske Bank A S purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 221,027 shares of the industrial products company’s stock, valued at approximately $105,463,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Caterpillar in the second quarter valued at $2,165,899,000. Illinois Municipal Retirement Fund grew its stake in shares of Caterpillar by 7.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock worth $8,237,000 after acquiring an additional 1,181 shares during the period. Groupe la Francaise increased its holdings in Caterpillar by 82.0% in the 2nd quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock worth $10,820,000 after acquiring an additional 12,278 shares during the last quarter. Union Bancaire Privee UBP SA raised its stake in Caterpillar by 155.9% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock valued at $21,014,000 after acquiring an additional 28,773 shares during the period. Finally, Caprock Group LLC bought a new stake in Caterpillar in the 3rd quarter valued at about $8,893,000. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group increased their target price on shares of Caterpillar from $785.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. UBS Group restated a “neutral” rating and set a $677.00 price target on shares of Caterpillar in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Caterpillar in a report on Monday, December 29th. Daiwa Securities Group boosted their target price on shares of Caterpillar from $640.00 to $790.00 in a report on Wednesday, February 25th. Finally, Raymond James Financial restated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Sixteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $730.50.

Caterpillar Trading Up 0.5%

Shares of Caterpillar stock opened at $703.53 on Wednesday. The company’s 50-day moving average price is $697.19 and its 200-day moving average price is $589.94. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $789.81. The company has a market cap of $327.34 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 1.65 and a beta of 1.54.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.49. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The business had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the firm posted $5.14 EPS. Caterpillar’s revenue was up 17.9% on a year-over-year basis. On average, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Transactions at Caterpillar

In related news, CEO Joseph E. Creed sold 2,500 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $718.93, for a total value of $1,797,325.00. Following the sale, the chief executive officer owned 35,083 shares in the company, valued at approximately $25,222,221.19. This trade represents a 6.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Denise C. Johnson sold 39,138 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $681.08, for a total value of $26,656,109.04. Following the transaction, the insider owned 43,350 shares of the company’s stock, valued at approximately $29,524,818. The trade was a 47.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 135,950 shares of company stock valued at $94,327,990. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.