Legacy Capital Group California Inc. Sells 1,312 Shares of Caterpillar Inc. (NYSE:CAT)

Legacy Capital Group California Inc. reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 24.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,981 shares of the industrial products company’s stock after selling 1,312 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Caterpillar were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Retirement Wealth Solutions LLC bought a new stake in shares of Caterpillar during the 4th quarter worth $34,000. Capital Performance Advisors LLP bought a new stake in Caterpillar in the third quarter worth about $36,000. Albion Financial Group UT boosted its stake in Caterpillar by 334.8% in the fourth quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 77 shares during the last quarter. Kimelman & Baird LLC grew its position in shares of Caterpillar by 42.9% during the 3rd quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares during the period. Finally, Trivant Custom Portfolio Group LLC increased its stake in shares of Caterpillar by 130.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 115 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several research reports. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Robert W. Baird increased their price target on Caterpillar from $299.00 to $300.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Truist Financial lowered their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. UBS Group upgraded shares of Caterpillar from a “sell” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $385.00 in a research report on Monday, February 3rd. Finally, Evercore ISI boosted their price target on shares of Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Caterpillar has a consensus rating of “Hold” and an average price target of $383.80.

Insider Activity

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction 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 purchase, the director now owns 2,953 shares of the company’s stock, valued at $1,176,977.21. The trade was a 3.51 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $380.09, for a total transaction of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at approximately $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,704 shares of company stock worth $7,226,584. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Trading Down 1.2 %

Shares of CAT stock opened at $348.84 on Friday. Caterpillar Inc. has a 52-week low of $307.05 and a 52-week high of $418.50. The business’s fifty day moving average is $370.18 and its 200 day moving average is $372.40. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.89 and a current ratio of 1.42. The company has a market capitalization of $166.72 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. On average, equities research analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st were issued a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, January 21st. Caterpillar’s payout ratio is 25.56%.

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.