Huntington National Bank Sells 1,965 Shares of Caterpillar Inc. (NYSE:CAT)

Huntington National Bank reduced its stake in Caterpillar Inc. (NYSE:CAT) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,362 shares of the industrial products company’s stock after selling 1,965 shares during the period. Huntington National Bank’s holdings in Caterpillar were worth $55,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Caterpillar by 0.7% in the third quarter. Principal Financial Group Inc. now owns 729,654 shares of the industrial products company’s stock valued at $285,382,000 after purchasing an additional 5,371 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Caterpillar during the 3rd quarter worth $393,000. Benjamin Edwards Inc. increased its stake in shares of Caterpillar by 976.0% in the third quarter. Benjamin Edwards Inc. now owns 31,796 shares of the industrial products company’s stock worth $12,441,000 after buying an additional 28,841 shares during the period. Ascent Group LLC boosted its position in Caterpillar by 19.4% during the 3rd quarter. Ascent Group LLC now owns 1,138 shares of the industrial products company’s stock valued at $445,000 after acquiring an additional 185 shares in the last quarter. Finally, Hilltop Holdings Inc. grew its stake in shares of Caterpillar by 38.8% in the 3rd quarter. Hilltop Holdings Inc. now owns 3,982 shares of the industrial products company’s stock worth $1,557,000 after buying an additional 1,113 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAT. Truist Financial dropped their price target on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Morgan Stanley reduced their target price on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. DA Davidson lifted their target price on Caterpillar from $350.00 to $357.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Raymond James raised shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $383.80.

Insider Activity at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $365.57 per share, with a total value of $36,557.00. Following the transaction, the director now directly owns 3,053 shares of the company’s stock, valued at approximately $1,116,085.21. This represents a 3.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Caterpillar Stock Performance

NYSE CAT opened at $330.40 on Wednesday. The company has a market capitalization of $157.91 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a 12-month low of $307.05 and a 12-month high of $418.50. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $352.51 and a two-hundred day moving average price of $372.33.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

About Caterpillar

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.