Caterpillar Inc. $CAT Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN decreased its position in shares of Caterpillar Inc. (NYSE:CAT) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,582 shares of the industrial products company’s stock after selling 96 shares during the quarter. OLD National Bancorp IN’s holdings in Caterpillar were worth $4,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacific Point Advisors LLC purchased a new stake in Caterpillar in the fourth quarter valued at $579,000. Brighton Jones LLC lifted its holdings in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after buying an additional 2,519 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Caterpillar by 5.9% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,460 shares of the industrial products company’s stock worth $482,000 after buying an additional 81 shares during the last quarter. Independence Bank of Kentucky grew its holdings in Caterpillar by 2.0% during the first quarter. Independence Bank of Kentucky now owns 2,172 shares of the industrial products company’s stock worth $716,000 after acquiring an additional 42 shares during the period. Finally, Sivia Capital Partners LLC raised its position in Caterpillar by 5.4% during the first quarter. Sivia Capital Partners LLC now owns 1,151 shares of the industrial products company’s stock valued at $380,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CAT shares. Erste Group Bank raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Robert W. Baird lifted their price objective on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Melius upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Melius Research upgraded Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Finally, Citigroup reaffirmed a “buy” rating on shares of Caterpillar in a report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $466.53.

Caterpillar Trading Up 1.6%

Shares of Caterpillar stock opened at $498.48 on Monday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $504.48. The firm’s 50-day moving average price is $436.99 and its 200 day moving average price is $379.06. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $233.53 billion, a PE ratio of 25.35, a P/E/G ratio of 3.03 and a beta of 1.46.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $16.14 billion. During the same quarter last year, the business earned $5.99 EPS. The business’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Activity

In other Caterpillar news, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the transaction, the insider directly owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,819 shares of company stock worth $16,885,492 over the last three months. 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.