OLD Second National Bank of Aurora Lowers Position in Caterpillar Inc. $CAT

OLD Second National Bank of Aurora cut its holdings in Caterpillar Inc. (NYSE:CAT) by 20.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 893 shares of the industrial products company’s stock after selling 225 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Caterpillar were worth $347,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Compass Financial Services Inc increased its holdings in Caterpillar by 49.2% during the first quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after buying an additional 31 shares during the period. Family Legacy Financial Solutions LLC bought a new stake in Caterpillar during the 2nd quarter valued at $32,000. Curat Global LLC purchased a new stake in shares of Caterpillar during the 1st quarter worth $33,000. Redmont Wealth Advisors LLC bought a new position in Caterpillar in the first quarter worth about $33,000. Finally, Fiduciary Wealth Partners LLC bought a new position in Caterpillar in the first quarter worth about $45,000. Institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Up 2.1%

Shares of NYSE:CAT opened at $490.88 on Friday. The firm has a market capitalization of $229.97 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.92 and a beta of 1.46. The business’s 50 day moving average price is $435.71 and its 200-day moving average price is $377.37. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $495.98.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. During the same period in the prior year, the firm earned $5.99 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider owned 8,632 shares in the company, valued at $3,605,586.40. This trade represents a 20.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock worth $16,885,492 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAT. Bank of America lifted their price objective on shares of Caterpillar from $495.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Barclays increased their price objective on Caterpillar from $383.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Truist Financial upped their target price on Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Evercore ISI upgraded Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price target on the stock in a research note on Tuesday, August 19th. Finally, Robert W. Baird lifted their target price on shares of Caterpillar from $495.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $466.53.

About Caterpillar

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.