Park National Corp OH trimmed its position in Caterpillar Inc. (NYSE:CAT) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,401 shares of the industrial products company’s stock after selling 275 shares during the period. Park National Corp OH’s holdings in Caterpillar were worth $1,948,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in CAT. Wealth Alliance boosted its position in Caterpillar by 31.9% in the third quarter. Wealth Alliance now owns 3,099 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 750 shares during the last quarter. Financial Advisory Service Inc. purchased a new position in shares of Caterpillar during the 3rd quarter valued at about $237,000. EP Wealth Advisors LLC purchased a new position in shares of Caterpillar during the 3rd quarter valued at about $448,000. BNC Wealth Management LLC purchased a new position in shares of Caterpillar during the 3rd quarter valued at about $101,000. Finally, Jackson Square Capital LLC lifted its position in shares of Caterpillar by 4.9% during the 3rd quarter. Jackson Square Capital LLC now owns 4,277 shares of the industrial products company’s stock valued at $638,000 after buying an additional 199 shares in the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.
In other news, CAO Gary Michael Marvel sold 5,056 shares of the business’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $220.97, for a total transaction of $1,117,224.32. Following the transaction, the chief accounting officer now owns 5,623 shares of the company’s stock, valued at approximately $1,242,514.31. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Suzette M. Long sold 59,311 shares of the business’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $219.67, for a total value of $13,028,847.37. Following the transaction, the general counsel now directly owns 33,320 shares in the company, valued at approximately $7,319,404.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,080 shares of company stock worth $32,650,920. Corporate insiders own 0.31% of the company’s stock.
Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 28th. The industrial products company reported $2.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.63. The firm had revenue of $11.24 billion for the quarter, compared to the consensus estimate of $11.24 billion. Caterpillar had a return on equity of 25.24% and a net margin of 7.60%. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.63 EPS. As a group, analysts anticipate that Caterpillar Inc. will post 5.44 EPS for the current year.
A number of research firms have recently weighed in on CAT. Stifel Nicolaus lifted their price objective on Caterpillar from $175.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 15th. BMO Capital Markets lifted their price objective on Caterpillar from $135.00 to $190.00 and gave the company a “market perform” rating in a research report on Monday, February 1st. Barclays lifted their target price on Caterpillar from $165.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, January 15th. Citigroup lifted their target price on Caterpillar from $205.00 to $245.00 in a research note on Tuesday, March 16th. Finally, OTR Global raised Caterpillar to a “positive” rating in a research note on Monday, December 14th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $182.05.
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.
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