Ingalls & Snyder LLC Grows Stock Position in Caterpillar Inc. $CAT

Ingalls & Snyder LLC increased its holdings in Caterpillar Inc. (NYSE:CAT) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,540 shares of the industrial products company’s stock after buying an additional 45 shares during the period. Ingalls & Snyder LLC’s holdings in Caterpillar were worth $2,151,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CAT. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $28,000. Compass Financial Services Inc boosted its position in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock worth $31,000 after buying an additional 31 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new position in Caterpillar in the 1st quarter valued at about $33,000. Finally, Harbor Asset Planning Inc. purchased a new position in Caterpillar in the 2nd quarter valued at about $34,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAT has been the topic of a number of recent research reports. DA Davidson upped their target price on shares of Caterpillar from $331.00 to $388.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Truist Financial upped their target price on shares of Caterpillar from $507.00 to $582.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Evercore ISI upgraded shares of Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 target price on the stock in a report on Tuesday, August 19th. Finally, Robert W. Baird upped their target price on shares of Caterpillar from $540.00 to $612.00 in a report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $518.19.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 2,161 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $417.70, for a total transaction of $902,649.70. Following the completion of the sale, the insider owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the sale, the chairman directly owned 448,173 shares of the company’s stock, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,985 shares of company stock valued at $25,559,300. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Trading Up 0.3%

Shares of CAT stock opened at $522.13 on Monday. The firm has a market cap of $244.60 billion, a P/E ratio of 26.56, a PEG ratio of 2.98 and a beta of 1.46. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $544.99. 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 firm’s 50-day simple moving average is $464.46 and its 200-day simple moving average is $399.92.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.16). The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.99 earnings per share. As a group, equities analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

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

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.