Huntington National Bank reduced its position in Caterpillar Inc. (NYSE:CAT) by 30.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 67,484 shares of the company’s stock after selling 29,697 shares during the period. Huntington National Bank’s holdings in Caterpillar were worth $5,116,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Pictet Asset Management Ltd. boosted its stake in Caterpillar by 2.0% in the first quarter. Pictet Asset Management Ltd. now owns 305,113 shares of the company’s stock worth $20,656,000 after buying an additional 5,900 shares during the last quarter. Primecap Management Co. CA boosted its stake in Caterpillar by 2.2% in the first quarter. Primecap Management Co. CA now owns 6,219,249 shares of the company’s stock worth $476,021,000 after buying an additional 135,248 shares during the last quarter. Scotia Capital Inc. boosted its stake in Caterpillar by 26.7% in the first quarter. Scotia Capital Inc. now owns 51,971 shares of the company’s stock worth $3,980,000 after buying an additional 10,946 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Caterpillar during the first quarter worth $383,000. Finally, State Farm Mutual Automobile Insurance Co. boosted its stake in Caterpillar by 1.1% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 21,017,733 shares of the company’s stock worth $1,608,697,000 after buying an additional 220,600 shares during the last quarter. 69.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Caterpillar Inc. (NYSE:CAT) traded up 0.80% during trading on Friday, hitting $87.67. The company had a trading volume of 3,601,023 shares. The stock’s 50-day moving average is $84.36 and its 200 day moving average is $79.01. Caterpillar Inc. has a 52-week low of $56.36 and a 52-week high of $89.87. The firm has a market capitalization of $51.22 billion, a P/E ratio of 58.45 and a beta of 1.54.
Caterpillar (NYSE:CAT) last announced its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.13. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The business earned $10.34 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. Equities research analysts predict that Caterpillar Inc. will post $3.50 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, November 19th. Stockholders of record on Monday, October 24th will be paid a dividend of $0.77 per share. The ex-dividend date is Thursday, October 20th. This represents a $3.08 annualized dividend and a dividend yield of 3.51%. Caterpillar’s dividend payout ratio (DPR) is 165.59%.
A number of research firms have recently weighed in on CAT. Vetr raised Caterpillar from a “sell” rating to a “hold” rating and set a $88.01 price objective for the company in a research report on Thursday, October 6th. Bank of America Corp. reissued a “hold” rating and issued a $92.00 price objective on shares of Caterpillar in a research report on Monday, October 3rd. Zacks Investment Research cut Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Goldman Sachs Group Inc. raised Caterpillar from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $112.00 in a research report on Tuesday. Finally, Jefferies Group raised their price objective on Caterpillar from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. Caterpillar has a consensus rating of “Hold” and an average target price of $76.48.
In other news, insider Bradley M. Halverson sold 2,841 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $82.73, for a total transaction of $235,035.93. Following the completion of the sale, the insider now owns 20,232 shares in the company, valued at $1,673,793.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis A. Muilenburg bought 1,930 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were acquired at an average price of $82.75 per share, with a total value of $159,707.50. Following the purchase, the director now directly owns 9,558 shares of the company’s stock, valued at approximately $790,924.50. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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