Caterpillar Inc. $CAT Stock Holdings Lowered by Park National Corp OH

Park National Corp OH lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 9.3% in the 2nd quarter, Holdings Channel reports. The fund owned 7,454 shares of the industrial products company’s stock after selling 768 shares during the period. Park National Corp OH’s holdings in Caterpillar were worth $2,894,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. McIlrath & Eck LLC grew its position in shares of Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 30 shares during the last quarter. Allen Wealth Management LLC lifted its holdings in Caterpillar by 0.8% in the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company’s stock worth $1,322,000 after purchasing an additional 30 shares during the period. Warwick Investment Management Inc. lifted its holdings in Caterpillar by 2.6% in the first quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 30 shares during the period. Compass Financial Services Inc lifted its holdings in Caterpillar by 49.2% in the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 31 shares during the period. Finally, Summit X LLC lifted its holdings in Caterpillar by 3.2% in the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company’s stock worth $338,000 after purchasing an additional 32 shares during the period. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

NYSE:CAT opened at $431.10 on Friday. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $441.15. 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 company has a 50-day moving average of $420.04 and a 200-day moving average of $365.32. The firm has a market cap of $201.96 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the prior year, the company posted $5.99 earnings per share. Caterpillar’s quarterly revenue was down .7% compared to the same quarter last year. Analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the sale, the director directly owned 6,917 shares of the company’s stock, valued at $2,835,970. This represents a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,653 shares of company stock valued at $8,943,642. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of several research analyst reports. Evercore ISI raised shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a report on Tuesday, August 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Caterpillar in a report on Friday, August 29th. Bank of America upped their price objective on shares of Caterpillar from $460.00 to $495.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Barclays upped their price objective on shares of Caterpillar from $383.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, Citigroup raised their price objective on shares of Caterpillar from $460.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $457.20.

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.