Arrow Financial Corp Has $437,000 Position in Caterpillar, Inc. (CAT)
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.
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