OLD National Bancorp IN Has $4.38 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

OLD National Bancorp IN reduced its position in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,082 shares of the industrial products company’s stock after selling 160 shares during the period. OLD National Bancorp IN’s holdings in Caterpillar were worth $4,383,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Caterpillar by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock worth $231,686,000 after purchasing an additional 10,212 shares during the last quarter. West Wealth Group LLC acquired a new position in Caterpillar during the fourth quarter worth $230,000. Alpha Cubed Investments LLC raised its holdings in Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after buying an additional 6,212 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Caterpillar by 43.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,902 shares of the industrial products company’s stock worth $5,437,000 after acquiring an additional 4,181 shares in the last quarter. Finally, Cadinha & Co. LLC acquired a new position in shares of Caterpillar during the 4th quarter valued at about $11,084,000. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CAT shares. UBS Group increased their price target on Caterpillar from $295.00 to $355.00 and gave the company a “sell” rating in a report on Tuesday. Morgan Stanley downgraded shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $349.00 to $332.00 in a report on Monday, October 14th. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Citigroup decreased their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Truist Financial dropped their price target on Caterpillar from $471.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $384.60.

Insider Transactions at Caterpillar

In other news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total transaction of $543,400.00. Following the sale, the director now directly owns 4,976 shares of the company’s stock, valued at $2,079,968. This represents a 20.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $378.84, for a total transaction of $1,009,229.76. Following the completion of the transaction, the insider now owns 12,951 shares of the company’s stock, valued at $4,906,356.84. This trade represents a 17.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,900 shares of company stock valued at $13,111,601 in the last three months. 0.29% of the stock is owned by corporate insiders.

Caterpillar Stock Down 4.4 %

NYSE CAT opened at $375.98 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $181.52 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.97 and a beta of 1.13. Caterpillar Inc. has a 1-year low of $299.93 and a 1-year high of $418.50. The stock’s 50 day moving average is $381.68 and its two-hundred day moving average is $370.78.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Equities analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s payout ratio is 26.15%.

Caterpillar Profile

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.