OLD National Bancorp IN Decreases Holdings in Caterpillar, Inc. (NYSE:CAT)

OLD National Bancorp IN cut its stake in Caterpillar, Inc. (NYSE:CAT) by 24.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,570 shares of the industrial products company’s stock after selling 2,482 shares during the period. OLD National Bancorp IN’s holdings in Caterpillar were worth $813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. B & T Capital Management DBA Alpha Capital Management boosted its stake in Caterpillar by 5.1% in the 1st quarter. B & T Capital Management DBA Alpha Capital Management now owns 23,821 shares of the industrial products company’s stock worth $2,210,000 after purchasing an additional 1,148 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Caterpillar by 49.7% in the 1st quarter. Independent Portfolio Consultants Inc. now owns 7,511 shares of the industrial products company’s stock worth $697,000 after purchasing an additional 2,495 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Caterpillar by 25.4% in the 1st quarter. Glen Harbor Capital Management LLC now owns 10,500 shares of the industrial products company’s stock worth $974,000 after purchasing an additional 2,128 shares during the period. Delta Asset Management LLC TN boosted its stake in Caterpillar by 0.5% in the 1st quarter. Delta Asset Management LLC TN now owns 62,199 shares of the industrial products company’s stock worth $5,770,000 after purchasing an additional 310 shares during the period. Finally, Crossvault Capital Management LLC boosted its stake in Caterpillar by 13.4% in the 1st quarter. Crossvault Capital Management LLC now owns 7,175 shares of the industrial products company’s stock worth $666,000 after purchasing an additional 850 shares during the period. 69.23% of the stock is owned by hedge funds and other institutional investors.

In other Caterpillar news, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total value of $20,826,898.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Suzette M. Long sold 13,859 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $114.30, for a total transaction of $1,584,083.70. Following the completion of the transaction, the insider now directly owns 18,188 shares of the company’s stock, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. In the last three months, insiders sold 201,471 shares of company stock valued at $22,979,332. Corporate insiders own 0.15% of the company’s stock.

CAT has been the subject of a number of research analyst reports. TheStreet raised shares of Caterpillar from a “c+” rating to a “b” rating in a research note on Tuesday, July 25th. Bank of America Corporation reissued a “buy” rating and set a $120.00 price target on shares of Caterpillar in a research report on Thursday, May 25th. Credit Suisse Group reissued a “buy” rating and set a $123.00 price target on shares of Caterpillar in a research report on Thursday, June 22nd. Deutsche Bank AG cut their price target on shares of Caterpillar from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Finally, BidaskClub raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $111.74.

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Caterpillar, Inc. (CAT) traded up 0.74% during mid-day trading on Friday, hitting $121.37. 4,610,125 shares of the company traded hands. The firm has a market capitalization of $71.73 billion, a P/E ratio of 678.04 and a beta of 1.24. Caterpillar, Inc. has a one year low of $80.33 and a one year high of $121.57. The firm has a 50 day moving average of $115.74 and a 200 day moving average of $104.67.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The company had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. Caterpillar’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts expect that Caterpillar, Inc. will post $5.24 earnings per share for the current fiscal year.

Caterpillar Company Profile

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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