Huntington National Bank Decreases Stake in Caterpillar Inc. (NYSE:CAT)

Huntington National Bank lessened its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,362 shares of the industrial products company’s stock after selling 1,965 shares during the quarter. Huntington National Bank’s holdings in Caterpillar were worth $55,271,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CAT. Flagship Wealth Advisors LLC bought a new stake in Caterpillar during the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Caterpillar in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC purchased a new position in Caterpillar during the 4th quarter valued at about $27,000. Noble Wealth Management PBC bought a new stake in Caterpillar during the fourth quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Caterpillar in the fourth quarter worth about $34,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAT has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price objective on Caterpillar from $455.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wedbush upgraded shares of Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley reduced their price objective on shares of Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Truist Financial dropped their target price on shares of Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. Two investment 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. Based on data from MarketBeat, Caterpillar currently has an average rating of “Hold” and an average price target of $383.80.

Caterpillar Price Performance

Shares of NYSE:CAT opened at $330.40 on Wednesday. The firm’s 50 day moving average price is $352.51 and its 200-day moving average price is $372.33. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $157.91 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share 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%. Equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Buying and Selling at Caterpillar

In other news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was 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 of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % 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 corporate insiders.

Caterpillar 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.