Arrow Financial Corp Has $2.42 Million Stock Position in Caterpillar Inc. (NYSE:CAT)

Arrow Financial Corp trimmed its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 46.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,337 shares of the industrial products company's stock after selling 6,376 shares during the quarter. Arrow Financial Corp's holdings in Caterpillar were worth $2,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Crestwood Advisors Group LLC grew its stake in Caterpillar by 3.4% in the 1st quarter. Crestwood Advisors Group LLC now owns 22,689 shares of the industrial products company's stock valued at $7,483,000 after buying an additional 743 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of Caterpillar by 1.9% during the first quarter. Hazlett Burt & Watson Inc. now owns 3,525 shares of the industrial products company's stock valued at $1,161,000 after purchasing an additional 65 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Caterpillar by 14.6% during the first quarter. GW&K Investment Management LLC now owns 283 shares of the industrial products company's stock worth $93,000 after buying an additional 36 shares during the last quarter. Wealth Dimensions Group Ltd. increased its stake in shares of Caterpillar by 5.6% in the first quarter. Wealth Dimensions Group Ltd. now owns 994 shares of the industrial products company's stock worth $328,000 after purchasing an additional 53 shares in the last quarter. Finally, Gallacher Capital Management LLC boosted its position in shares of Caterpillar by 35.2% in the first quarter. Gallacher Capital Management LLC now owns 1,364 shares of the industrial products company's stock valued at $450,000 after acquiring an additional 355 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT stock traded down $3.78 during midday trading on Monday, hitting $409.94. The company had a trading volume of 1,833,278 shares, compared to its average volume of 2,505,605. The company's 50 day simple moving average is $369.61 and its 200 day simple moving average is $349.62. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $419.90. The stock has a market cap of $193.10 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.74 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period in the prior year, the business earned $5.60 earnings per share. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, July 21st. This is a positive change from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio (DPR) is 27.49%.

Analysts Set New Price Targets

Several brokerages recently commented on CAT. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $300.00 to $283.00 in a research note on Wednesday, April 16th. Baird R W upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target on the stock in a research note on Wednesday, July 9th. Bank of America raised their price target on Caterpillar from $335.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, UBS Group raised Caterpillar from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Caterpillar has an average rating of "Moderate Buy" and a consensus target price of $415.53.

Insider Buying and Selling

In related news, Director David Maclennan purchased 375 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average price of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director owned 6,653 shares in the company, valued at approximately $2,133,617.10. This trade represents a 5.97% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

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.