First Hawaiian Bank Has $344,000 Stake in Caterpillar Inc. $CAT

Key Points

• First Hawaiian Bank has reduced its stake in Caterpillar Inc. by 64.7%, now owning only 1,044 shares, valued at $344,000.
• Insiders at Caterpillar sold a total of 21,653 shares worth nearly $9 million last quarter, reflecting a significant decrease in their own holdings.
• Analysts have varying outlooks on Caterpillar, with a consensus average target price of $457.20 and ratings ranging from Strong Buy to Hold.

First Hawaiian Bank decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 64.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,044 shares of the industrial products company's stock after selling 1,916 shares during the quarter. First Hawaiian Bank's holdings in Caterpillar were worth $344,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in Caterpillar during the 4th quarter worth $33,000. Mpwm Advisory Solutions LLC bought a new position in Caterpillar during the 4th quarter worth $36,000. Mattson Financial Services LLC bought a new position in Caterpillar during the 4th quarter worth $39,000. Curat Global LLC bought a new position in Caterpillar during the 1st quarter worth $33,000. Finally, Redmont Wealth Advisors LLC bought a new position in Caterpillar during the 1st quarter worth $33,000. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Caterpillar

In other news, Director Susan C. Schwab sold 2,324 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares in the company, valued at $199,211,839.35. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,653 shares of company stock worth $8,943,642. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

CAT has been the subject of several research analyst reports. Melius Research raised Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective for the company in a research report on Wednesday, July 9th. Robert W. Baird lowered their price objective on Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Truist Financial lifted their price objective on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Barclays lifted their price objective on Caterpillar from $383.00 to $425.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Oppenheimer lowered their price objective on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $457.20.

Caterpillar Price Performance

CAT stock opened at $435.62 on Tuesday. The company has a market capitalization of $204.08 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 2.62 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $441.15. The business has a 50-day simple moving average of $420.93 and a two-hundred day simple moving average of $366.13.

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

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