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

Legacy CG LLC lifted its stake in shares of Caterpillar Inc. (NYSE:CAT) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,344 shares of the industrial products company’s stock after buying an additional 755 shares during the period. Caterpillar makes up approximately 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 reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CAT. Legal & General Group Plc raised its holdings in shares of Caterpillar by 2.0% during the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock worth $1,286,582,000 after purchasing an additional 75,973 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Caterpillar by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock worth $1,022,488,000 after purchasing an additional 165,358 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Caterpillar by 39,534.0% during the third quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock worth $8,356,930,000 after purchasing an additional 2,131,276 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Caterpillar by 10.4% in the second quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock valued at $702,431,000 after buying an additional 198,123 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in Caterpillar by 6.3% in the first quarter. Capital Research Global Investors now owns 2,020,100 shares of the industrial products company’s stock valued at $740,225,000 after buying an additional 119,326 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup cut their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. StockNews.com lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays lifted their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Robert W. Baird lifted their target price on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $358.19.

Caterpillar Price Performance

Caterpillar stock opened at $376.52 on Tuesday. Caterpillar Inc. has a 1 year low of $233.57 and a 1 year high of $403.60. The company’s 50 day simple moving average is $372.91 and its 200-day simple moving average is $351.45. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The company has a market capitalization of $182.57 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the prior year, the company posted $5.52 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts expect that Caterpillar Inc. will post 21.82 earnings per share for the current year.

Caterpillar Dividend Announcement

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

Insider Activity

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

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.