Legacy CG LLC Sells 890 Shares of Caterpillar Inc. (NYSE:CAT)

Legacy CG LLC reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,454 shares of the industrial products company’s stock after selling 890 shares during the quarter. Caterpillar accounts for approximately 1.7% of Legacy CG LLC’s investment portfolio, making the stock its 23rd biggest holding. Legacy CG LLC’s holdings in Caterpillar were worth $5,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAT. International Assets Investment Management LLC grew its holdings in 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 period. Zurich Insurance Group Ltd FI boosted its stake in shares of Caterpillar by 4,018.6% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 255,355 shares of the industrial products company’s stock worth $99,874,000 after acquiring an additional 249,155 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Caterpillar by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after acquiring an additional 205,012 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Caterpillar by 34.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 782,133 shares of the industrial products company’s stock valued at $305,908,000 after purchasing an additional 200,210 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Caterpillar by 106.2% in the third quarter. Assenagon Asset Management S.A. now owns 317,828 shares of the industrial products company’s stock valued at $124,309,000 after purchasing an additional 163,725 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Citigroup boosted their price objective on Caterpillar from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Morgan Stanley lowered their target price on Caterpillar from $330.00 to $300.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Robert W. Baird upped their price objective on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Truist Financial dropped their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has a consensus rating of “Hold” and an average target price of $379.50.

Caterpillar Stock Down 0.8 %

Shares of CAT opened at $359.04 on Thursday. The firm has a 50 day simple moving average of $379.09 and a two-hundred day simple moving average of $371.31. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.42 and a quick ratio of 0.89. Caterpillar Inc. has a one year low of $307.05 and a one year high of $418.50. The company has a market cap of $173.35 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.95 and a beta of 1.12.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Research analysts forecast that Caterpillar Inc. will post 21.45 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.57%. Caterpillar’s payout ratio is currently 25.56%.

Insider Activity at Caterpillar

In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the transaction, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. This represents a 18.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony D. Fassino sold 6,279 shares of Caterpillar stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $408.59, for a total value of $2,565,536.61. Following the sale, the insider now directly owns 33,565 shares in the company, valued at $13,714,323.35. The trade was a 15.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

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.