1,509 Caterpillar Inc. $CAT Shares Acquired by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Caterpillar stake by 2.6% during the third quarter, acquiring 1,509 shares and bringing its holdings to 59,191 shares valued at approximately $46.4 million.
• Caterpillar CEO Joseph E. Creed sold 32,401 shares for about $26.2 million, reducing his direct ownership by 48.39%; institutional investors own nearly 71% of the company.
• Caterpillar exceeded quarterly earnings and revenue expectations, reporting $8.17 in EPS and $20.54 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $982.92.

NorthCrest Asset Manangement LLC lifted its holdings in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,191 shares of the industrial products company's stock after buying an additional 1,509 shares during the period. Caterpillar makes up approximately 1.1% of NorthCrest Asset Manangement LLC's portfolio, making the stock its 13th biggest holding. NorthCrest Asset Manangement LLC's holdings in Caterpillar were worth $46,364,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CAT. Decker Retirement Planning Inc. boosted its holdings in shares of Caterpillar by 440.0% in the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company's stock worth $29,000 after buying an additional 22 shares during the last quarter. Matrix Trust Co grew its holdings in Caterpillar by 93.8% during the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company's stock valued at $33,000 after buying an additional 15 shares in the last quarter. Axiom Investment Management LLC purchased a new stake in shares of Caterpillar in the second quarter worth about $36,000. Lam Group Inc. bought a new position in shares of Caterpillar in the first quarter valued at approximately $26,000. Finally, Tacita Capital Inc purchased a new position in Caterpillar during the second quarter valued at approximately $47,000. 70.98% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Joseph E. Creed sold 32,401 shares of the company's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the transaction, the chief executive officer directly owned 34,555 shares in the company, valued at approximately $27,954,303.90. The trade was a 48.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Caterpillar Trading Down 0.1%

Shares of CAT opened at $799.83 on Tuesday. The firm's 50 day simple moving average is $821.64 and its 200 day simple moving average is $855.26. The company has a market capitalization of $367.66 billion, a P/E ratio of 34.42, a P/E/G ratio of 1.38 and a beta of 1.58. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85. Caterpillar Inc. has a 1-year low of $495.45 and a 1-year high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $1.95. The business had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. Caterpillar's revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.72 earnings per share. Sell-side analysts forecast that Caterpillar Inc. will post 27.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CAT has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Caterpillar from $900.00 to $925.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Oppenheimer reissued an "outperform" rating and issued a $1,118.00 price target on shares of Caterpillar in a report on Tuesday, August 4th. Barclays boosted their price target on shares of Caterpillar from $800.00 to $900.00 and gave the company an "equal weight" rating in a research report on Thursday, August 6th. Citigroup decreased their price target on shares of Caterpillar from $1,100.00 to $950.00 and set a "buy" rating on the stock in a report on Monday. Finally, Needham & Company LLC set a $980.00 price objective on Caterpillar in a research report on Thursday, September 10th. Fifteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $982.92.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.

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