Caterpillar Inc. $CAT Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH reduced its holdings in Caterpillar Inc. by 9.3%, owning 7,454 shares valued at approximately $2.89 million after selling 768 shares.
• Several analysts have given Caterpillar a consensus rating of "Moderate Buy" with a target price averaging around $457.20, signaling positive expectations for the stock.
• Caterpillar's second-quarter earnings fell short of consensus estimates, reporting $4.72 EPS, missing the projection by $0.16, despite revenue of $16.57 billion.

Park National Corp OH trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 9.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Caterpillar by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock valued at $26,037,000 after buying an additional 7,125 shares in the last quarter. Victrix Investment Advisors acquired a new position in shares of Caterpillar during the fourth quarter worth $2,090,000. Charles Schwab Investment Management Inc. lifted its position in shares of Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after purchasing an additional 15,347 shares in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Caterpillar during the first quarter worth $427,000. Finally, Pacific Point Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth $579,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Melius raised shares of Caterpillar from a "hold" rating to a "buy" rating and set a $500.00 target price on the stock in a research report on Wednesday, July 9th. Robert W. Baird reduced their target price on shares of Caterpillar from $500.00 to $495.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. DA Davidson boosted their target price on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Citigroup lifted their price target on shares of Caterpillar from $460.00 to $500.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Oppenheimer dropped their price target on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $457.20.

Caterpillar Stock Down 0.1%

Shares of NYSE:CAT opened at $431.10 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $441.15. The company has a fifty day simple moving average of $420.04 and a 200 day simple moving average of $365.32. The firm has a market cap of $201.96 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) 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 business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the previous year, the firm earned $5.99 EPS. The firm's revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS 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 business's stock in a transaction on 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 owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction on 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 owned 6,917 shares of the company's stock, valued at approximately $2,835,970. The trade was a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,653 shares of company stock worth $8,943,642 over the last 90 days. Insiders own 0.33% of the company's stock.

Caterpillar Company 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.

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