NorthCrest Asset Manangement LLC Acquires 1,008 Shares of Caterpillar Inc. (NYSE:CAT)

NorthCrest Asset Manangement LLC grew its stake in Caterpillar Inc. (NYSE:CAT) by 1.4% during the third quarter, HoldingsChannel reports. The fund owned 74,165 shares of the industrial products company’s stock after acquiring an additional 1,008 shares during the quarter. Caterpillar comprises about 0.9% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 25th largest position. NorthCrest Asset Manangement LLC’s holdings in Caterpillar were worth $29,008,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in shares of Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after acquiring an additional 2,131,276 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after purchasing an additional 307,479 shares during the last quarter. Altshuler Shaham Ltd grew its stake in Caterpillar by 3,319.7% during the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after buying an additional 266,969 shares during the last quarter. Swedbank AB purchased a new stake in Caterpillar in the first quarter valued at about $97,042,000. Finally, Capital International Investors grew its stake in shares of Caterpillar by 99.9% during the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock worth $179,060,000 after acquiring an additional 244,253 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the transaction, the insider now directly owns 15,615 shares of the company’s stock, valued at approximately $5,347,825.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

CAT stock traded down $1.09 during midday trading on Friday, reaching $385.97. The stock had a trading volume of 1,606,883 shares, compared to its average volume of 2,622,578. Caterpillar Inc. has a 52-week low of $223.76 and a 52-week high of $403.60. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The company’s fifty day simple moving average is $368.57 and its 200 day simple moving average is $350.95. The company has a market cap of $188.76 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.55 EPS. As a group, sell-side analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.46%. Caterpillar’s dividend payout ratio (DPR) is 25.46%.

Analysts Set New Price Targets

Several brokerages recently commented on CAT. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Raymond James assumed coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial raised their target price on Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Caterpillar from $435.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, UBS Group raised their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Caterpillar has a consensus rating of “Hold” and an average target price of $355.50.

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.