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

OLD National Bancorp IN lowered its stake in shares of Caterpillar Inc. (NYSE:CAT) by 10.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,602 shares of the industrial products company’s stock after selling 2,222 shares during the quarter. OLD National Bancorp IN’s holdings in Caterpillar were worth $5,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Gilfoyle & Co LLC bought a new stake in Caterpillar during the 4th quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new stake in Caterpillar during the 4th quarter valued at $39,000. Authentikos Wealth Advisory LLC bought a new position in Caterpillar during the 3rd quarter valued at about $41,000. Rational Advisors LLC bought a new stake in shares of Caterpillar during the 3rd quarter worth approximately $42,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Caterpillar during the third quarter valued at $44,000. Institutional investors own 70.98% of the company’s stock.

Insider Activity at Caterpillar

In other news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at $7,741,725.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now directly owns 23,474 shares of the company’s stock, valued at approximately $7,741,725.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the completion of the sale, the chief financial officer now owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The disclosure for this sale can be found here. Insiders sold a total of 45,769 shares of company stock valued at $14,509,306 over the last ninety days. Insiders own 0.33% of the company’s stock.

Caterpillar Stock Up 0.8 %

Shares of NYSE CAT traded up $2.80 during midday trading on Monday, reaching $357.46. 271,829 shares of the company’s stock were exchanged, compared to its average volume of 2,411,921. The stock has a market capitalization of $178.52 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The business’s fifty day moving average price is $346.70 and its two-hundred day moving average price is $298.22. Caterpillar Inc. has a 52-week low of $204.04 and a 52-week high of $382.01.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. The company had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $3.86 EPS. Analysts forecast that Caterpillar Inc. will post 21.41 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar’s dividend payout ratio (DPR) is presently 25.82%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. TD Cowen lifted their target price on Caterpillar from $300.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Wells Fargo & Company raised their target price on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group raised their price target on shares of Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $307.56.

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.