NBT Bank N A NY cut its stake in Caterpillar, Inc. (NYSE:CAT) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,753 shares of the industrial products company’s stock after selling 349 shares during the period. NBT Bank N A NY’s holdings in Caterpillar were worth $3,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pinnacle Financial Partners Inc. lifted its holdings in shares of Caterpillar by 19.3% during the first quarter. Pinnacle Financial Partners Inc. now owns 3,403 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 551 shares during the last quarter. Athena Capital Advisors LLC lifted its holdings in shares of Caterpillar by 3.7% during the first quarter. Athena Capital Advisors LLC now owns 7,121 shares of the industrial products company’s stock valued at $661,000 after purchasing an additional 254 shares during the last quarter. Elkfork Partners LLC lifted its holdings in shares of Caterpillar by 25.4% during the first quarter. Elkfork Partners LLC now owns 12,750 shares of the industrial products company’s stock valued at $1,183,000 after purchasing an additional 2,584 shares during the last quarter. Point View Wealth Management Inc. lifted its holdings in shares of Caterpillar by 11.3% during the first quarter. Point View Wealth Management Inc. now owns 8,121 shares of the industrial products company’s stock valued at $753,000 after purchasing an additional 826 shares during the last quarter. Finally, Ray Gerald L & Associates Ltd. lifted its holdings in shares of Caterpillar by 1.6% during the first quarter. Ray Gerald L & Associates Ltd. now owns 28,283 shares of the industrial products company’s stock valued at $2,624,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 69.24% of the company’s stock.

Shares of Caterpillar, Inc. (CAT) opened at 128.19 on Wednesday. Caterpillar, Inc. has a 52-week low of $80.33 and a 52-week high of $128.29. The firm has a 50-day moving average of $121.39 and a 200-day moving average of $108.72. The company has a market cap of $75.76 billion, a P/E ratio of 716.15 and a beta of 1.26.

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

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Several equities analysts have recently issued reports on CAT shares. Axiom Securities reiterated a “sell” rating on shares of Caterpillar in a report on Friday, June 16th. BMO Capital Markets reiterated a “hold” rating and set a $110.00 target price on shares of Caterpillar in a report on Wednesday, June 21st. Bank of America Corporation set a $120.00 target price on shares of Caterpillar and gave the company a “buy” rating in a report on Tuesday, June 20th. Credit Suisse Group reiterated a “buy” rating and set a $123.00 target price on shares of Caterpillar in a report on Thursday, June 22nd. Finally, Deutsche Bank AG lowered shares of Caterpillar from a “buy” rating to a “hold” rating and lowered their target price for the company from $121.00 to $106.00 in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $115.98.

In other Caterpillar news, insider Suzette M. Long sold 13,859 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $114.30, for a total value of $1,584,083.70. Following the completion of the transaction, the insider now owns 18,188 shares of the company’s stock, valued at $2,078,888.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William A. Osborn sold 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,471 shares of company stock valued at $22,979,332. Corporate insiders own 0.14% of the company’s stock.

Caterpillar Profile

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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