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

Legacy Wealth Asset Management LLC decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,802 shares of the industrial products company’s stock after selling 138 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Caterpillar were worth $1,016,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Caterpillar in the third quarter worth approximately $36,000. Fairscale Capital LLC purchased a new position in shares of Caterpillar in the 2nd quarter valued at $36,000. Kimelman & Baird LLC raised its position in shares of Caterpillar by 42.9% in the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 30 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in shares of Caterpillar by 47.2% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 156 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 50 shares during the last quarter. Finally, HWG Holdings LP bought a new stake in Caterpillar during the second quarter valued at about $54,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other news, Director Gerald Johnson purchased 100 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average cost of $398.57 per share, with a total value of $39,857.00. Following the completion of the acquisition, the director now owns 2,953 shares of the company’s stock, valued at approximately $1,176,977.21. This represents a 3.51 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the sale, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $642,332.28. This represents a 36.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,868 shares of company stock worth $9,679,489 over the last quarter. 0.29% of the stock is currently owned by insiders.

Caterpillar Price Performance

Shares of 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 business’s 50 day moving average price is $380.24 and its 200 day moving average price is $366.36. 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 firm has a market cap of $183.87 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.72 and a beta of 1.13.

Caterpillar (NYSE:CAT) last released its quarterly earnings data 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). The business had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the company earned $5.52 earnings per share. On average, sell-side analysts expect that Caterpillar Inc. will post 21.68 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be issued a $1.41 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.48%. Caterpillar’s dividend payout ratio (DPR) is presently 26.15%.

Analysts Set New Price Targets

Several analysts have commented on CAT shares. Citigroup decreased their price target on shares of Caterpillar from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Tuesday. Truist Financial decreased their target price on shares of Caterpillar from $471.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group lifted their price target on shares of Caterpillar from $455.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI raised Caterpillar from an “underperform” rating to an “in-line” rating and set a $365.00 price objective for the company in a research report on Monday. Finally, Robert W. Baird upped their target price on Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $380.60.

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.