Huntington National Bank Sells 1,119 Shares of Caterpillar, Inc. (NYSE:CAT)
Huntington National Bank decreased its position in Caterpillar, Inc. (NYSE:CAT) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,274 shares of the industrial products company’s stock after selling 1,119 shares during the period. Huntington National Bank’s holdings in Caterpillar were worth $7,767,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Howe & Rusling Inc. raised its position in Caterpillar by 52.0% in the first quarter. Howe & Rusling Inc. now owns 1,087 shares of the industrial products company’s stock worth $101,000 after buying an additional 372 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Caterpillar during the first quarter worth about $107,000. First Personal Financial Services raised its position in Caterpillar by 167.4% in the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock worth $111,000 after buying an additional 750 shares in the last quarter. Harfst & Associates Inc. acquired a new position in Caterpillar during the first quarter worth about $111,000. Finally, Financial Architects Inc raised its position in Caterpillar by 5.7% in the first quarter. Financial Architects Inc now owns 1,215 shares of the industrial products company’s stock valued at $113,000 after buying an additional 65 shares during the period. 70.53% of the stock is owned by institutional investors.
Shares of Caterpillar, Inc. (NYSE CAT) traded down 0.27% on Friday, hitting $112.85. 2,130,558 shares of the stock traded hands. The company has a market cap of $66.69 billion, a PE ratio of 630.45 and a beta of 1.25. Caterpillar, Inc. has a 12 month low of $79.93 and a 12 month high of $115.46. The firm’s 50 day moving average is $109.77 and its 200-day moving average is $101.19.
Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The business had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter last year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts predict that Caterpillar, Inc. will post $5.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, August 19th. Investors of record on Thursday, July 20th will be paid a dividend of $0.78 per share. The ex-dividend date is Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from Caterpillar’s previous quarterly dividend of $0.77. Caterpillar’s dividend payout ratio (DPR) is presently 2,080.00%.
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CAT has been the subject of several recent research reports. BidaskClub raised shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Axiom Securities reaffirmed a “sell” rating on shares of Caterpillar in a report on Tuesday, June 6th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Caterpillar in a report on Wednesday, July 26th. Raymond James Financial, Inc. raised shares of Caterpillar to a “buy” rating and set a $55.00 target price for the company in a report on Thursday, April 27th. Finally, Credit Suisse Group set a $123.00 target price on shares of Caterpillar and gave the company a “buy” rating in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $107.15.
In related news, insider Bradley M. Halverson sold 182,612 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $114.05, for a total transaction of $20,826,898.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the sale, the insider now directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,471 shares of company stock worth $22,979,332. Corporate insiders own 0.15% of the company’s stock.
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