Arrow Financial Corp Acquires 47 Shares of Caterpillar Inc. (NYSE:CAT)

Arrow Financial Corp grew its holdings in Caterpillar Inc. (NYSE:CAT) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,931 shares of the industrial products company’s stock after purchasing an additional 47 shares during the period. Arrow Financial Corp’s holdings in Caterpillar were worth $5,449,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CAT. Transcendent Capital Group LLC boosted its stake in shares of Caterpillar by 122.5% in the 3rd quarter. Transcendent Capital Group LLC now owns 1,324 shares of the industrial products company’s stock valued at $518,000 after purchasing an additional 729 shares in the last quarter. Houlihan Financial Resource Group Ltd. acquired a new stake in Caterpillar in the third quarter valued at approximately $295,000. Essex Savings Bank grew its stake in shares of Caterpillar by 3.1% during the third quarter. Essex Savings Bank now owns 6,244 shares of the industrial products company’s stock worth $2,442,000 after buying an additional 186 shares during the last quarter. Field & Main Bank increased its holdings in shares of Caterpillar by 0.6% during the third quarter. Field & Main Bank now owns 7,828 shares of the industrial products company’s stock worth $3,062,000 after buying an additional 45 shares in the last quarter. Finally, Kerusso Capital Management LLC lifted its stake in shares of Caterpillar by 6.4% in the 3rd quarter. Kerusso Capital Management LLC now owns 4,585 shares of the industrial products company’s stock valued at $1,793,000 after acquiring an additional 276 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group upped their target price on Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Evercore ISI reduced their target price on shares of Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Truist Financial raised their price target on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup reduced their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $362.40.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the sale, the insider now owns 33,442 shares of the company’s stock, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO William E. Schaupp sold 968 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $642,332.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,749 shares of company stock valued at $9,251,912 in the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Caterpillar Stock Down 3.6 %

Shares of Caterpillar stock opened at $393.37 on Friday. The firm has a market cap of $190.75 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.06 and a beta of 1.10. The stock’s 50-day moving average is $376.80 and its 200 day moving average is $352.75. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a one year low of $233.82 and a one year high of $418.50.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same period last year, the business earned $5.52 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.43%. Caterpillar’s dividend payout ratio is currently 26.15%.

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.