Huntington National Bank Sells 1,965 Shares of Caterpillar Inc. (NYSE:CAT)

Huntington National Bank cut its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,362 shares of the industrial products company's stock after selling 1,965 shares during the period. Huntington National Bank's holdings in Caterpillar were worth $55,271,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Caterpillar during the fourth quarter valued at $2,184,364,000. Raymond James Financial Inc. purchased a new position in Caterpillar in the 4th quarter worth approximately $353,231,000. Proficio Capital Partners LLC lifted its holdings in shares of Caterpillar by 50,072.7% during the 4th quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after acquiring an additional 803,166 shares during the last quarter. Amundi grew its position in Caterpillar by 17.3% in the fourth quarter. Amundi now owns 2,166,087 shares of the industrial products company's stock worth $782,109,000 after acquiring an additional 318,891 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock valued at $16,980,629,000 after purchasing an additional 284,366 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now directly owns 45,182 shares in the company, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now owns 6,275 shares in the company, valued at $2,225,742.50. This trade represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Caterpillar Stock Down 4.4 %

CAT stock traded down $12.56 during midday trading on Monday, hitting $275.52. The stock had a trading volume of 3,523,446 shares, compared to its average volume of 2,572,173. The business has a 50-day moving average of $346.83 and a two-hundred day moving average of $371.43. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. The firm has a market cap of $131.68 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. Caterpillar Inc. has a 52-week low of $268.29 and a 52-week high of $418.50.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. As a group, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CAT has been the subject of a number of research reports. Evercore ISI upped their price objective on Caterpillar from $365.00 to $375.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Citigroup upped their target price on Caterpillar from $420.00 to $430.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their price target on shares of Caterpillar from $515.00 to $490.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Morgan Stanley reduced their target price on shares of Caterpillar from $330.00 to $300.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. Finally, StockNews.com downgraded shares of Caterpillar from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $383.80.

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.