Huntington National Bank Cuts Stock Position in Caterpillar Inc. (NYSE:CAT)

Huntington National Bank lowered its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 154,327 shares of the industrial products company's stock after selling 2,100 shares during the period. Huntington National Bank's holdings in Caterpillar were worth $60,360,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CAT. Bbjs Financial Advisors LLC acquired a new position in shares of Caterpillar during the 2nd quarter valued at $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar in the second quarter valued at $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Caterpillar in the 3rd quarter worth about $36,000. Fairscale Capital LLC bought a new position in shares of Caterpillar in the second quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC boosted its holdings in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company's stock worth $38,000 after acquiring an additional 108 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Lange Bob De sold 12,657 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the sale, the insider now owns 71,107 shares of the company's stock, valued at approximately $29,171,646.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Lange Bob De sold 12,657 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the transaction, the insider now owns 71,107 shares of the company's stock, valued at $29,171,646.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now directly owns 15,615 shares of the company's stock, valued at $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,749 shares of company stock worth $9,251,912 in the last ninety days. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup decreased their price objective on shares of Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Evercore ISI lowered Caterpillar from an "in-line" rating to an "underperform" rating and lifted their price target for the stock from $321.00 to $365.00 in a report on Wednesday. Barclays upped their price objective on Caterpillar from $315.00 to $335.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 7th. Bank of America lifted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Finally, Morgan Stanley downgraded shares of Caterpillar from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $349.00 to $332.00 in a report on Monday, October 14th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Caterpillar has an average rating of "Hold" and an average price target of $365.33.

Caterpillar Price Performance

Shares of NYSE:CAT traded up $0.05 during trading on Thursday, reaching $387.12. The company had a trading volume of 601,212 shares, compared to its average volume of 2,612,307. Caterpillar Inc. has a 12 month low of $241.81 and a 12 month high of $418.50. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $186.90 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. The company has a fifty day moving average of $379.68 and a two-hundred day moving average of $353.59.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts' consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to analysts' expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.52 EPS. Equities research analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar's dividend payout ratio is presently 26.15%.

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.