Caterpillar Inc. (NYSE:CAT) Stake Cut by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 11.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,041 shares of the industrial products company’s stock after selling 5,126 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Caterpillar were worth $12,672,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Southland Equity Partners LLC grew its stake in shares of Caterpillar by 4.0% in the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after buying an additional 30 shares in the last quarter. Davis Investment Partners LLC grew its holdings in Caterpillar by 2.1% during the first quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 30 shares during the period. Private Trust Co. NA increased its position in Caterpillar by 0.3% during the first quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock worth $3,919,000 after buying an additional 30 shares during the last quarter. Hilltop National Bank raised its stake in Caterpillar by 1.2% in the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after buying an additional 31 shares during the period. Finally, Exchange Capital Management Inc. lifted its position in shares of Caterpillar by 3.3% in the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock valued at $372,000 after buying an additional 32 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at approximately $6,480,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

Caterpillar Price Performance

Shares of CAT stock traded down $0.24 on Wednesday, hitting $343.06. 1,432,166 shares of the company’s stock were exchanged, compared to its average volume of 2,713,589. The company has a 50 day moving average of $335.11 and a 200 day moving average of $341.29. The stock has a market cap of $167.77 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. Caterpillar Inc. has a 12 month low of $223.76 and a 12 month high of $382.01.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $5.55 earnings per share. On average, equities research analysts predict that Caterpillar Inc. will post 21.57 EPS for the current year.

Caterpillar declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Caterpillar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd were paid a $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $5.64 annualized dividend and a dividend yield of 1.64%. Caterpillar’s dividend payout ratio is presently 25.46%.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a research note on Monday. UBS Group increased their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a research report on Wednesday, August 7th. Citigroup initiated coverage on shares of Caterpillar in a research note on Wednesday, June 26th. They issued a “buy” rating and a $380.00 price target on the stock. Raymond James began coverage on shares of Caterpillar in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, HSBC increased their target price on Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $336.31.

Caterpillar Profile

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.