Ingalls & Snyder LLC Acquires 350 Shares of Caterpillar Inc. (NYSE:CAT)

Ingalls & Snyder LLC increased its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,195 shares of the industrial products company’s stock after purchasing an additional 350 shares during the quarter. Ingalls & Snyder LLC’s holdings in Caterpillar were worth $2,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC raised its stake in Caterpillar by 2.6% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 1,037 shares of the industrial products company’s stock valued at $405,000 after purchasing an additional 26 shares during the last quarter. First Bank & Trust raised its position in shares of Caterpillar by 4.0% in the third quarter. First Bank & Trust now owns 709 shares of the industrial products company’s stock valued at $277,000 after buying an additional 27 shares during the last quarter. Washington Trust Bank lifted its stake in shares of Caterpillar by 1.2% in the third quarter. Washington Trust Bank now owns 2,349 shares of the industrial products company’s stock worth $919,000 after buying an additional 27 shares in the last quarter. Pacifica Partners Inc. grew its stake in Caterpillar by 1.6% during the 3rd quarter. Pacifica Partners Inc. now owns 1,807 shares of the industrial products company’s stock valued at $707,000 after acquiring an additional 28 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors raised its holdings in Caterpillar by 0.8% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 3,466 shares of the industrial products company’s stock valued at $1,356,000 after acquiring an additional 28 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Stock Performance

NYSE CAT opened at $399.24 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. The company has a market cap of $192.75 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.99 and a beta of 1.10. The stock has a 50-day moving average of $392.26 and a two-hundred day moving average of $358.40. Caterpillar Inc. has a 1-year low of $252.42 and a 1-year high of $418.50.

Caterpillar (NYSE:CAT) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The business had revenue of $16.11 billion for the quarter, compared to analysts’ expectations of $16.37 billion. During the same period in the previous year, the company earned $5.52 earnings per share. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, analysts anticipate that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Monday, October 21st were paid a dividend of $1.41 per share. The ex-dividend date was Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.41%. Caterpillar’s payout ratio is 26.15%.

Insider Buying and Selling at Caterpillar

In related news, insider Anthony D. Fassino sold 6,279 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $408.59, for a total value of $2,565,536.61. Following the transaction, the insider now owns 33,565 shares of the company’s stock, valued at $13,714,323.35. This represents a 15.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value of $368,788.64. Following the completion of 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 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. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CAT. Bank of America upped their price target on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Barclays raised their target price on Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. UBS Group boosted their price target on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Evercore ISI cut shares of Caterpillar from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $321.00 to $365.00 in a research report on Wednesday, November 13th. Finally, Morgan Stanley lowered shares of Caterpillar from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $349.00 to $332.00 in a report on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus price target of $365.33.

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.