Huntington National Bank decreased its stake in Caterpillar Inc. (NYSE:CAT) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 72,658 shares of the industrial products company’s stock after selling 716 shares during the quarter. Huntington National Bank’s holdings in Caterpillar were worth $11,079,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Zacks Investment Management boosted its holdings in Caterpillar by 12.7% during the 2nd quarter. Zacks Investment Management now owns 87,963 shares of the industrial products company’s stock valued at $11,934,000 after acquiring an additional 9,918 shares during the period. Hartford Financial Management Inc. raised its position in shares of Caterpillar by 92.4% in the 2nd quarter. Hartford Financial Management Inc. now owns 24,696 shares of the industrial products company’s stock worth $3,351,000 after acquiring an additional 11,860 shares in the last quarter. Old Port Advisors bought a new position in shares of Caterpillar in the 2nd quarter worth $1,804,000. Xact Kapitalforvaltning AB raised its position in shares of Caterpillar by 2.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 62,254 shares of the industrial products company’s stock worth $8,446,000 after acquiring an additional 1,367 shares in the last quarter. Finally, OmniStar Financial Group Inc. grew its stake in Caterpillar by 8.0% during the 2nd quarter. OmniStar Financial Group Inc. now owns 9,890 shares of the industrial products company’s stock worth $1,341,000 after buying an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 66.63% of the company’s stock.

In related news, insider Denise C. Johnson sold 35,051 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $154.18, for a total value of $5,404,163.18. Following the completion of the transaction, the insider now owns 22,826 shares of the company’s stock, valued at approximately $3,519,312.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.36% of the company’s stock.

Several research firms have weighed in on CAT. Citigroup upgraded Caterpillar to an “outperform” rating in a research note on Friday, September 21st. Robert W. Baird upgraded Caterpillar from a “neutral” rating to an “outperform” rating and set a $158.00 price target on the stock in a research note on Thursday, September 20th. OTR Global downgraded Caterpillar to a “positive” rating in a research note on Friday, September 21st. UBS Group set a $185.00 target price on Caterpillar and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Finally, CIBC assumed coverage on Caterpillar in a research note on Friday, September 7th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $171.44.

NYSE CAT opened at $131.32 on Friday. The stock has a market capitalization of $80.71 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38. Caterpillar Inc. has a twelve month low of $129.43 and a twelve month high of $173.24. The company has a quick ratio of 0.97, a current ratio of 1.37 and a debt-to-equity ratio of 1.59.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Monday, July 30th. The industrial products company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.24. The company had revenue of $14.01 billion during the quarter, compared to analysts’ expectations of $14.09 billion. Caterpillar had a return on equity of 40.60% and a net margin of 6.12%. Caterpillar’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 EPS. As a group, equities research analysts expect that Caterpillar Inc. will post 11.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, October 22nd will be issued a $0.86 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $3.44 dividend on an annualized basis and a yield of 2.62%. Caterpillar’s payout ratio is 50.00%.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives for construction, resource, and energy and transportation industries. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact truck and multi-terrain loaders, forestry excavators, feller bunchers, harvesters, knuckleboom loaders, motorgraders, pipelayers, road reclaimers, site prep tractors, skidders, skid steer loaders, telehandlers, track-type loaders, wheel excavators, and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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