Park National Corp OH Sells 768 Shares of Caterpillar Inc. $CAT

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 stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 9.3% during the second quarter, according to its most recent 13F filing with the SEC. 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 institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in shares of Caterpillar in the 4th quarter valued at approximately $33,000. Compass Financial Services Inc grew its holdings in Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock valued at $31,000 after buying an additional 31 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $36,000. Mattson Financial Services LLC acquired a new stake in Caterpillar in the 4th quarter valued at approximately $39,000. Finally, Curat Global LLC acquired a new stake in Caterpillar in the 1st quarter valued at approximately $33,000. 70.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Caterpillar news, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares in the company, valued at approximately $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the stock in a transaction on 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 transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,653 shares of company stock valued at $8,943,642. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $500.00 target price on shares of Caterpillar in a report on Friday, August 29th. DA Davidson raised their target price on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 target price on the stock in a report on Wednesday, July 9th. Bank of America lifted their price objective on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Evercore ISI upgraded shares of Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $460.20.

Caterpillar Trading Down 0.8%

CAT traded down $3.93 during mid-day trading on Friday, reaching $463.03. The stock had a trading volume of 1,703,703 shares, compared to its average volume of 2,739,151. The stock has a market capitalization of $216.92 billion, a P/E ratio of 23.55, a P/E/G ratio of 2.74 and a beta of 1.41. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $472.12. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. The firm's fifty day simple moving average is $423.99 and its two-hundred day simple moving average is $368.16.

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

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.