OLD National Bancorp IN Sells 2,482 Shares of Caterpillar, Inc. (CAT)
OLD National Bancorp IN trimmed its holdings in shares of Caterpillar, Inc. (NYSE:CAT) by 24.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,570 shares of the industrial products company’s stock after selling 2,482 shares during the quarter. OLD National Bancorp IN’s holdings in Caterpillar were worth $813,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC bought a new position in Caterpillar during the first quarter worth about $107,000. First Personal Financial Services increased its position in Caterpillar by 167.4% during the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 750 shares during the period. Harfst & Associates Inc. bought a new position in Caterpillar during the first quarter worth about $111,000. Financial Architects Inc increased its position in Caterpillar by 5.7% during the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 65 shares during the period. Finally, Ledyard National Bank increased its position in Caterpillar by 2.1% during the second quarter. Ledyard National Bank now owns 1,455 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 30 shares during the period. 69.23% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Caterpillar, Inc. (CAT) traded up 0.04% on Friday, reaching $117.82. 2,786,971 shares of the company were exchanged. The firm has a market capitalization of $69.63 billion, a PE ratio of 658.21 and a beta of 1.24. The stock’s 50-day moving average is $114.48 and its 200 day moving average is $103.84. Caterpillar, Inc. has a 12-month low of $79.93 and a 12-month high of $119.19.
Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.23. The business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $10.96 billion. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. Caterpillar’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, analysts forecast that Caterpillar, Inc. will post $5.24 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, August 19th. Shareholders of record on Thursday, July 20th were paid a $0.78 dividend. The ex-dividend date was Tuesday, July 18th. This represents a $3.12 annualized dividend and a yield of 2.65%. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio is currently 2,080.00%.
In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William A. Osborn sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,471 shares of company stock valued at $22,979,332. 0.15% of the stock is owned by insiders.
A number of equities analysts recently commented on CAT shares. BMO Capital Markets reaffirmed a “buy” rating and set a $130.00 price target on shares of Caterpillar in a research report on Friday. Jefferies Group LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Caterpillar in a research report on Tuesday, August 29th. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a research report on Monday, May 15th. Deutsche Bank AG lowered shares of Caterpillar from a “buy” rating to a “hold” rating and lowered their price target for the stock from $121.00 to $106.00 in a research report on Friday, June 23rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $133.00 price target (up from $123.00) on shares of Caterpillar in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $110.79.
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