Caterpillar Inc. (NYSE:CAT) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. trimmed its holdings in Caterpillar Inc. (NYSE:CAT) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,293 shares of the industrial products company’s stock after selling 117 shares during the quarter. Caterpillar accounts for approximately 0.7% of Legacy Capital Group California Inc.’s investment portfolio, making the stock its 23rd biggest holding. Legacy Capital Group California Inc.’s holdings in Caterpillar were worth $2,070,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAT. Smallwood Wealth Investment Management LLC increased its position in Caterpillar by 2.6% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 26 shares during the period. Pacifica Partners Inc. grew its holdings in shares of Caterpillar by 1.6% during the third quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock worth $707,000 after buying an additional 28 shares in the last quarter. Souders Financial Advisors raised its holdings in Caterpillar by 0.8% in the 2nd quarter. Souders Financial Advisors now owns 3,657 shares of the industrial products company’s stock valued at $1,218,000 after acquiring an additional 29 shares during the last quarter. Hilltop National Bank lifted its position in Caterpillar by 1.2% during the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock worth $878,000 after buying an additional 31 shares during the period. Finally, Procyon Advisors LLC boosted its position in shares of Caterpillar by 0.3% in the third quarter. Procyon Advisors LLC now owns 11,659 shares of the industrial products company’s stock worth $4,560,000 after acquiring an additional 31 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease 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 that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the completion of the transaction, the director now owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred 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 of the company’s stock, 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. 0.33% of the stock is currently owned by insiders.

Caterpillar Price Performance

Shares of Caterpillar stock opened at $386.81 on Friday. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $403.60. The company has a current ratio of 1.28, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The company’s 50-day moving average price is $367.72 and its two-hundred day moving average price is $350.86. The stock has a market cap of $189.17 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $5.55 earnings per share. As a group, sell-side analysts anticipate that Caterpillar Inc. will post 21.91 EPS for the current fiscal year.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders 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 1.46%. The ex-dividend date is Monday, October 21st. Caterpillar’s payout ratio is 25.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAT. Morgan Stanley lowered 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. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Bank of America upped their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Barclays lifted their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, Truist Financial upped their target price on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $355.50.

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.