FNY Investment Advisers LLC Invests $124,000 in Caterpillar Inc. $CAT

FNY Investment Advisers LLC bought a new position in shares of Caterpillar Inc. (NYSE:CAT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 321 shares of the industrial products company’s stock, valued at approximately $124,000.

Several other hedge funds have also added to or reduced their stakes in the company. Aire Advisors LLC boosted its holdings in Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after acquiring an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC boosted its holdings in Caterpillar by 0.5% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after acquiring an additional 25 shares during the last quarter. GSB Wealth Management LLC boosted its holdings in Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after acquiring an additional 26 shares during the last quarter. Verum Partners LLC boosted its holdings in Caterpillar by 2.5% in the second quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 26 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors boosted its holdings in Caterpillar by 0.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock valued at $1,388,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of Caterpillar stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,985 shares of company stock valued at $25,559,300 over the last 90 days. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CAT. Barclays raised their price target on Caterpillar from $425.00 to $485.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. Melius Research raised Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, July 9th. Oppenheimer raised their target price on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Robert W. Baird raised their target price on Caterpillar from $540.00 to $612.00 in a report on Monday. Finally, Royal Bank Of Canada initiated coverage on Caterpillar in a report on Wednesday. They set a “sector perform” rating and a $560.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $518.19.

Caterpillar Trading Down 2.1%

NYSE CAT opened at $513.70 on Thursday. The firm has a market cap of $240.66 billion, a P/E ratio of 26.13, a P/E/G ratio of 2.99 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The stock’s 50-day moving average is $460.10 and its 200-day moving average is $394.97. Caterpillar Inc. has a one year low of $267.30 and a one year high of $544.99.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $5.99 EPS. Sell-side analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. Caterpillar’s dividend payout ratio (DPR) is currently 30.72%.

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.