1ST Source Bank Sells 65 Shares of Caterpillar Inc. (NYSE:CAT)

1ST Source Bank decreased its holdings in Caterpillar Inc. (NYSE:CAT) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,947 shares of the industrial products company’s stock after selling 65 shares during the quarter. 1ST Source Bank’s holdings in Caterpillar were worth $3,313,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Hardin Capital Partners LLC bought a new position in Caterpillar in the 2nd quarter valued at $494,000. RS Crum Inc. raised its position in shares of Caterpillar by 2.4% during the second quarter. RS Crum Inc. now owns 4,430 shares of the industrial products company’s stock worth $1,476,000 after acquiring an additional 105 shares during the last quarter. TradeLink Capital LLC bought a new stake in shares of Caterpillar during the second quarter worth $600,000. Meeder Advisory Services Inc. raised its position in shares of Caterpillar by 31.7% during the second quarter. Meeder Advisory Services Inc. now owns 11,990 shares of the industrial products company’s stock worth $3,994,000 after acquiring an additional 2,889 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Caterpillar by 5.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 394,209 shares of the industrial products company’s stock worth $129,289,000 after acquiring an additional 21,381 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total transaction of $527,800.00. Following the completion of the transaction, the insider now owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total transaction of $527,800.00. Following the sale, the insider now directly owns 18,515 shares of the company’s stock, valued at approximately $6,480,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Johnson acquired 100 shares of Caterpillar stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at $962,272.78. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by insiders.

Caterpillar Stock Up 1.7 %

NYSE:CAT opened at $345.31 on Friday. Caterpillar Inc. has a 1 year low of $223.76 and a 1 year high of $382.01. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock has a market cap of $167.44 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.56 and a beta of 1.10. The stock has a 50-day moving average price of $340.70 and a two-hundred day moving average price of $343.83.

Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $5.55 earnings per share. As a group, equities analysts expect that Caterpillar Inc. will post 21.88 earnings per share for the current year.

Caterpillar announced that its board has approved a stock repurchase plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAT. Barclays boosted their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Citigroup began coverage on Caterpillar in a research report on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Bank of America dropped their target price on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Evercore ISI decreased their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $336.31.

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.