Legal & General Group Plc Has $316.37 Million Stake in Caterpillar, Inc. (CAT)
Legal & General Group Plc grew its position in shares of Caterpillar, Inc. (NYSE:CAT) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,944,171 shares of the industrial products company’s stock after acquiring an additional 18,241 shares during the quarter. Legal & General Group Plc owned about 0.50% of Caterpillar worth $316,372,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Baker Ellis Asset Management LLC acquired a new position in shares of Caterpillar during the second quarter valued at $104,000. Harbour Capital Advisors LLC acquired a new position in shares of Caterpillar during the first quarter valued at $107,000. First Personal Financial Services boosted its holdings in shares of Caterpillar by 167.4% during the first quarter. First Personal Financial Services now owns 1,198 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 750 shares during the period. Harfst & Associates Inc. acquired a new position in shares of Caterpillar during the first quarter valued at $111,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Caterpillar by 75.6% during the second quarter. Chicago Partners Investment Group LLC now owns 1,152 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 496 shares during the period. 69.24% of the stock is owned by institutional investors.
In other Caterpillar news, Director William A. Osborn sold 5,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $113.67, for a total value of $568,350.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now directly owns 18,188 shares in the company, valued at approximately $2,078,888.40. The disclosure for this sale can be found here. Insiders sold 201,471 shares of company stock worth $22,979,332 in the last three months. Insiders own 0.14% of the company’s stock.
Caterpillar, Inc. (NYSE CAT) opened at 124.52 on Thursday. The company has a 50-day moving average price of $116.33 and a 200-day moving average price of $105.20. The stock has a market cap of $73.59 billion, a PE ratio of 695.64 and a beta of 1.24. Caterpillar, Inc. has a 52 week low of $80.33 and a 52 week high of $125.42.
Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.23. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts anticipate that Caterpillar, Inc. will post $5.25 earnings per share for the current year.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Caterpillar from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group reissued a “hold” rating and set a $133.00 price target on shares of Caterpillar in a report on Friday, September 22nd. Tigress Financial reissued a “buy” rating on shares of Caterpillar in a report on Monday, September 18th. UBS AG raised shares of Caterpillar from a “neutral” rating to a “buy” rating and boosted their price target for the company from $116.00 to $140.00 in a report on Monday, September 18th. Finally, BMO Capital Markets boosted their price target on shares of Caterpillar from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $114.03.
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