Legacy CG LLC Invests $4.38 Million in Caterpillar Inc. (NYSE:CAT)

Legacy CG LLC acquired a new position in Caterpillar Inc. (NYSE:CAT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,814 shares of the industrial products company’s stock, valued at approximately $4,380,000. Caterpillar makes up 1.7% of Legacy CG LLC’s investment portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAT. Gilfoyle & Co LLC bought a new position in Caterpillar in the 4th quarter worth $30,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Caterpillar during the 4th quarter valued at about $30,000. Atlas Capital Advisors LLC boosted its holdings in shares of Caterpillar by 272.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Caterpillar by 730.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 95 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in shares of Caterpillar during the 2nd quarter valued at about $30,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CAT. Wells Fargo & Company increased their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. increased their price target on shares of Caterpillar from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Citigroup increased their price target on shares of Caterpillar from $255.00 to $340.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Evercore ISI downgraded shares of Caterpillar from an “outperform” rating to an “in-line” rating and increased their price target for the company from $321.00 to $338.00 in a report on Tuesday, February 20th. Finally, Robert W. Baird increased their price target on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Caterpillar presently has an average rating of “Hold” and a consensus target price of $301.94.

Caterpillar Stock Down 0.4 %

NYSE:CAT traded down $1.34 during mid-day trading on Monday, hitting $364.29. 1,492,257 shares of the company’s stock traded hands, compared to its average volume of 2,425,745. The company has a fifty day moving average of $342.95 and a 200 day moving average of $295.12. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 1.35. The company has a market capitalization of $181.93 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.63 and a beta of 1.17. Caterpillar Inc. has a twelve month low of $204.04 and a twelve month high of $382.01.

Caterpillar (NYSE:CAT) last issued its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The firm had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. During the same quarter in the prior year, the business earned $3.86 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Caterpillar Inc. will post 21.33 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.43%. Caterpillar’s payout ratio is currently 25.82%.

Insider Activity at Caterpillar

In related news, insider Lange Bob De sold 21,194 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Caterpillar news, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the transaction, the chief financial officer now owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,769 shares of company stock valued at $14,509,306. 0.33% of the stock is currently owned by insiders.

Caterpillar 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.