NorthCrest Asset Manangement LLC Has $25.08 Million Holdings in Caterpillar Inc. (NYSE:CAT)

NorthCrest Asset Manangement LLC lifted its position in Caterpillar Inc. (NYSE:CAT) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,051 shares of the industrial products company’s stock after buying an additional 1,130 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Caterpillar were worth $25,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. Adell Harriman & Carpenter Inc. lifted its stake in shares of Caterpillar by 1.2% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 2,256 shares of the industrial products company’s stock worth $818,000 after acquiring an additional 27 shares during the last quarter. Abacus Planning Group Inc. lifted its stake in shares of Caterpillar by 1.0% during the 4th quarter. Abacus Planning Group Inc. now owns 2,897 shares of the industrial products company’s stock worth $1,051,000 after acquiring an additional 28 shares during the last quarter. Cape Investment Advisory Inc. lifted its stake in shares of Caterpillar by 6.3% during the 4th quarter. Cape Investment Advisory Inc. now owns 471 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 28 shares during the last quarter. Beacon Capital Management LLC lifted its stake in shares of Caterpillar by 2.1% during the 4th quarter. Beacon Capital Management LLC now owns 1,432 shares of the industrial products company’s stock worth $520,000 after acquiring an additional 29 shares during the last quarter. Finally, Klingman & Associates LLC lifted its stake in shares of Caterpillar by 4.5% during the 4th quarter. Klingman & Associates LLC now owns 703 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 30 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CAT shares. Wall Street Zen cut Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. DA Davidson upped their target price on Caterpillar from $325.00 to $331.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. UBS Group upgraded Caterpillar from a “sell” rating to a “neutral” rating and upped their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Finally, Evercore ISI lowered their target price on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a report on Monday, May 19th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $372.92.

Caterpillar Trading Down 0.6%

Shares of NYSE:CAT opened at $360.85 on Friday. The business’s 50-day moving average is $325.40 and its 200 day moving average is $348.98. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The firm has a market capitalization of $169.98 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.87 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $5.60 earnings per share. On average, research analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Monday, July 21st. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 27.49%.

Insiders Place Their Bets

In related news, Director David Maclennan bought 375 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the acquisition, the director now owns 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Caterpillar Company 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.