Legacy CG LLC Buys 417 Shares of Caterpillar Inc. (NYSE:CAT)

Legacy CG LLC boosted its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,871 shares of the industrial products company’s stock after purchasing an additional 417 shares during the quarter. Caterpillar comprises about 1.7% of Legacy CG LLC’s portfolio, making the stock its 24th biggest position. Legacy CG LLC’s holdings in Caterpillar were worth $5,234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CAT. Vanguard Group Inc. boosted its position in Caterpillar by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company’s stock valued at $16,980,629,000 after acquiring an additional 284,366 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Caterpillar by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company’s stock worth $3,790,841,000 after purchasing an additional 236,315 shares during the last quarter. Fisher Asset Management LLC grew its stake in Caterpillar by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 9,081,775 shares of the industrial products company’s stock valued at $3,294,505,000 after purchasing an additional 129,143 shares during the last quarter. Northern Trust Corp raised its holdings in Caterpillar by 11.8% in the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company’s stock worth $2,483,937,000 after purchasing an additional 724,477 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Caterpillar during the fourth quarter valued at about $2,184,364,000. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director David Maclennan bought 375 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 6,653 shares in the company, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by insiders.

Caterpillar Stock Performance

CAT opened at $381.70 on Friday. The firm has a fifty day moving average price of $340.31 and a 200 day moving average price of $346.48. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $418.50. The stock has a market cap of $179.80 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.47 and a beta of 1.37. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.10). The firm had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a return on equity of 53.77% and a net margin of 15.71%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.60 earnings per share. Equities research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a $1.51 dividend. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.58%. This is a boost from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analysts Forecast Growth

CAT has been the subject of several recent analyst reports. Truist Financial boosted their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird upped their target price on Caterpillar from $395.00 to $422.00 and gave the company an “outperform” rating in a research report on Friday, June 20th. UBS Group raised Caterpillar from a “sell” rating to a “neutral” rating and raised their price target for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Morgan Stanley upgraded shares of Caterpillar from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $300.00 to $283.00 in a report on Wednesday, April 16th. Finally, Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $380.83.

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.