Caterpillar Inc. $CAT Stake Cut by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC reduced its stake in Caterpillar Inc. by 1.2% during the second quarter, now holding 75,102 shares, valued at approximately $29.88 million.
• Caterpillar reported $4.72 earnings per share for the latest quarter, falling short of analysts' expectations of $4.88, with quarterly revenue declining 0.7% year-over-year.
• Analysts have issued mixed ratings for Caterpillar's stock, with target price estimates ranging from $425 to $540, indicating a general sentiment of Moderate Buy.

NorthCrest Asset Manangement LLC lowered its stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,102 shares of the industrial products company's stock after selling 949 shares during the quarter. Caterpillar comprises 0.8% of NorthCrest Asset Manangement LLC's holdings, making the stock its 26th largest holding. NorthCrest Asset Manangement LLC's holdings in Caterpillar were worth $29,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CAT. Pacific Point Advisors LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at approximately $579,000. Brighton Jones LLC raised its holdings in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock valued at $2,688,000 after buying an additional 2,519 shares during the period. Westwood Holdings Group Inc. increased its holdings in Caterpillar by 1.0% during the 4th quarter. Westwood Holdings Group Inc. now owns 5,903 shares of the industrial products company's stock worth $2,141,000 after purchasing an additional 57 shares during the period. Woodline Partners LP purchased a new stake in Caterpillar during the 4th quarter worth about $10,518,000. Finally, Waverly Advisors LLC increased its holdings in shares of Caterpillar by 48.0% in the 4th quarter. Waverly Advisors LLC now owns 21,529 shares of the industrial products company's stock valued at $7,810,000 after acquiring an additional 6,978 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Buying and Selling

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total value of $7,088,152.16. Following the completion of the sale, the chairman directly owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,653 shares of company stock valued at $8,943,642 over the last quarter. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CAT shares. Robert W. Baird upped their target price on Caterpillar from $495.00 to $540.00 and gave the company an "outperform" rating in a research report on Wednesday. Evercore ISI raised Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 target price for the company in a research note on Tuesday, August 19th. Bank of America increased their target price on Caterpillar from $460.00 to $495.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Truist Financial increased their target price on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Caterpillar in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $460.20.

Caterpillar Trading Down 0.1%

CAT stock traded down $0.34 during trading on Friday, hitting $466.62. The company had a trading volume of 5,066,694 shares, compared to its average volume of 2,369,601. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. The firm has a 50-day moving average price of $425.21 and a 200-day moving average price of $369.34. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $472.12. The stock has a market cap of $218.60 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.84 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The firm had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. Caterpillar's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $5.99 EPS. As a group, analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

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.