Legacy Wealth Asset Management LLC Lowers Stock Position in Caterpillar Inc. (NYSE:CAT)

Legacy Wealth Asset Management LLC trimmed its position in Caterpillar Inc. (NYSE:CAT) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,802 shares of the industrial products company’s stock after selling 138 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Caterpillar were worth $1,016,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CAT. E Fund Management Co. Ltd. raised its holdings in Caterpillar by 301.4% during the second quarter. E Fund Management Co. Ltd. now owns 3,091 shares of the industrial products company’s stock valued at $1,030,000 after acquiring an additional 2,321 shares during the period. Argent Trust Co raised its stake in Caterpillar by 1.3% during the 2nd quarter. Argent Trust Co now owns 9,880 shares of the industrial products company’s stock valued at $3,291,000 after purchasing an additional 126 shares during the period. Seven Eight Capital LP purchased a new position in Caterpillar in the 2nd quarter worth approximately $523,000. Altrius Capital Management Inc boosted its stake in Caterpillar by 2.4% in the 2nd quarter. Altrius Capital Management Inc now owns 13,772 shares of the industrial products company’s stock worth $4,588,000 after purchasing an additional 318 shares during the period. Finally, Garner Asset Management Corp grew its holdings in Caterpillar by 1.4% during the 2nd quarter. Garner Asset Management Corp now owns 2,277 shares of the industrial products company’s stock valued at $759,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. UBS Group increased their price objective on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a report on Monday, November 4th. Citigroup reduced their target price on Caterpillar from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America raised their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective on the stock in a report on Monday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $380.60.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the sale, the insider now directly owns 12,951 shares of the company’s stock, valued at $4,906,356.84. The trade was a 17.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $380.98, for a total transaction of $368,788.64. Following the transaction, the chief accounting officer now directly owns 1,686 shares in the company, valued at approximately $642,332.28. This trade represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock valued at $9,679,489 in the last quarter. 0.29% of the stock is owned by insiders.

Caterpillar Stock Up 1.6 %

NYSE CAT opened at $380.85 on Friday. Caterpillar Inc. has a 52 week low of $276.94 and a 52 week high of $418.50. The firm has a market capitalization of $183.87 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.72 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a fifty day moving average of $380.24 and a two-hundred day moving average of $366.36.

Caterpillar (NYSE:CAT) last issued 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 firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same quarter in the previous year, the company posted $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts predict that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, January 21st. Caterpillar’s dividend payout ratio is currently 26.15%.

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.