Caterpillar Inc. (NYSE:CAT) Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC raised its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,051 shares of the industrial products company's stock after buying an additional 1,130 shares during the period. NorthCrest Asset Manangement LLC's holdings in Caterpillar were worth $25,082,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacific Point Advisors LLC bought a new position in shares of Caterpillar during the fourth quarter worth about $579,000. Brighton Jones LLC lifted its position in shares of Caterpillar by 51.5% during the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company's stock worth $2,688,000 after purchasing an additional 2,519 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Caterpillar during the fourth quarter worth about $7,396,000. Marks Group Wealth Management Inc lifted its position in shares of Caterpillar by 7.9% during the fourth quarter. Marks Group Wealth Management Inc now owns 2,211 shares of the industrial products company's stock worth $802,000 after purchasing an additional 161 shares during the last quarter. Finally, MFG Wealth Management Inc. bought a new position in shares of Caterpillar during the fourth quarter worth about $2,308,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Performance

Shares of NYSE:CAT traded down $4.17 during trading hours on Friday, hitting $356.79. The stock had a trading volume of 1,609,485 shares, compared to its average volume of 2,564,350. The stock's fifty day simple moving average is $327.10 and its 200 day simple moving average is $348.25. 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 $168.06 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.87 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter in the prior year, the business earned $5.60 EPS. Caterpillar's revenue was down 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is currently 29.43%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial reaffirmed a "buy" rating and set a $396.00 price target (up previously from $389.00) on shares of Caterpillar in a research report on Thursday, May 1st. Robert W. Baird raised shares of Caterpillar from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $309.00 to $395.00 in a report on Tuesday, May 13th. UBS Group raised shares of Caterpillar from a "sell" rating to a "neutral" rating and raised their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Evercore ISI cut their target price on shares of Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a report on Monday, May 19th. Finally, Citigroup raised their target price on shares of Caterpillar from $320.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $372.92.

Insider Activity at Caterpillar

In related news, Director David Maclennan acquired 375 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the completion of the purchase, the director now directly owns 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company's stock.

About Caterpillar

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.