Caterpillar Inc. (NYSE:CAT) Shares Bought by Legacy CG LLC

Legacy CG LLC lifted its position in shares of Caterpillar Inc. (NYSE:CAT) by 4.8% in the 3rd quarter, Holdings Channel reports. The fund owned 16,344 shares of the industrial products company’s stock after buying an additional 755 shares during the period. Caterpillar comprises 2.1% of Legacy CG LLC’s investment portfolio, making the stock its 19th biggest holding. Legacy CG LLC’s holdings in Caterpillar were worth $6,392,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. grew its position in Caterpillar by 3.4% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 3,160 shares of the industrial products company’s stock valued at $1,239,000 after buying an additional 105 shares in the last quarter. PDS Planning Inc lifted its holdings in Caterpillar by 7.1% in the 3rd quarter. PDS Planning Inc now owns 2,402 shares of the industrial products company’s stock valued at $940,000 after acquiring an additional 159 shares during the last quarter. TKG Advisors LLC lifted its holdings in Caterpillar by 78.2% in the 3rd quarter. TKG Advisors LLC now owns 6,304 shares of the industrial products company’s stock valued at $2,466,000 after acquiring an additional 2,767 shares during the last quarter. Garrison Asset Management LLC acquired a new stake in Caterpillar in the 3rd quarter valued at about $216,000. Finally, Palisades Hudson Asset Management L.P. acquired a new stake in Caterpillar in the 3rd quarter valued at about $233,000. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAT. Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. UBS Group upped their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research note on Monday. Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $349.00 to $332.00 in a research note on Monday, October 14th. Finally, StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Hold” and a consensus target price of $358.19.

Insider Transactions at Caterpillar

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,128 shares of company stock worth $2,506,748. Insiders own 0.29% of the company’s stock.

Caterpillar Trading Down 0.8 %

NYSE:CAT opened at $376.52 on Tuesday. The stock’s 50 day moving average price is $372.91 and its 200 day moving average price is $351.45. Caterpillar Inc. has a 52 week low of $233.57 and a 52 week high of $403.60. The company has a market capitalization of $182.57 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.86 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the business earned $5.52 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts forecast that Caterpillar Inc. will post 21.82 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.50%. Caterpillar’s payout ratio is 26.15%.

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.