Arrow Financial Corp maintained its stake in Caterpillar, Inc. (NYSE:CAT) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,068 shares of the industrial products company’s stock at the close of the second quarter. Arrow Financial Corp’s holdings in Caterpillar were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. S. R. Schill & Associates boosted its stake in Caterpillar by 0.3% in the 1st quarter. S. R. Schill & Associates now owns 2,204 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 6 shares during the period. Northstar Group Inc. boosted its stake in Caterpillar by 0.3% in the 2nd quarter. Northstar Group Inc. now owns 2,385 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 8 shares during the period. Clearbridge Investments LLC boosted its stake in Caterpillar by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 3,635 shares of the industrial products company’s stock worth $337,000 after purchasing an additional 10 shares during the period. Toth Financial Advisory Corp boosted its stake in Caterpillar by 0.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 3,915 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 10 shares during the period. Finally, Tarbox Family Office Inc. boosted its stake in Caterpillar by 0.4% in the 2nd quarter. Tarbox Family Office Inc. now owns 2,887 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 12 shares during the period. 69.24% of the stock is owned by hedge funds and other institutional investors.

Caterpillar, Inc. (NYSE:CAT) opened at 124.85 on Thursday. The firm’s 50 day moving average is $116.33 and its 200-day moving average is $105.20. The firm has a market cap of $73.78 billion, a price-to-earnings ratio of 697.49 and a beta of 1.24. Caterpillar, Inc. has a 12 month low of $80.33 and a 12 month high of $125.28. Caterpillar also was the target of unusually large options trading activity on Monday. Investors bought 20,797 call options on the stock. This is an increase of approximately 131% compared to the typical daily volume of 8,998 call options.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.26 by $0.23. Caterpillar had a net margin of 0.27% and a return on equity of 18.52%. The business had revenue of $11.33 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Caterpillar, Inc. will post $5.25 EPS for the current year.

Several equities research analysts have commented on the stock. UBS AG raised shares of Caterpillar from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $116.00 to $140.00 in a research report on Monday. Tigress Financial reissued a “buy” rating on shares of Caterpillar in a research report on Monday. BMO Capital Markets boosted their price target on shares of Caterpillar from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, September 14th. Seaport Global Securities assumed coverage on shares of Caterpillar in a research report on Wednesday, September 6th. They set a “neutral” rating and a $120.00 price target on the stock. Finally, ValuEngine raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Caterpillar has an average rating of “Hold” and an average price target of $113.55.

In other news, Director William A. Osborn sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were 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 the SEC website. Also, insider Bradley M. Halverson sold 182,612 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $114.05, for a total transaction of $20,826,898.60. The disclosure for this sale can be found here. In the last three months, insiders sold 201,471 shares of company stock worth $22,979,332. Insiders own 0.15% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.dailypolitical.com/2017/09/21/arrow-financial-corp-has-437000-position-in-caterpillar-inc-cat.html.

Caterpillar Profile

Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

Receive News & Ratings for Caterpillar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.