Atria Wealth Solutions Inc. Has $5.74 Million Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Caterpillar Inc. by 45.4% during the second quarter, holding 14,695 shares worth $5.74 million after selling 12,216 shares.
• Insider Jason Kaiser sold 2,161 shares of Caterpillar stock, while Chairman Donald J. Umpleby III sold 17,168 shares, representing decreases of 20.02% and 3.44% in their respective holdings.
• Analysts have raised their price targets for Caterpillar, with Jefferies Financial Group setting a target of $570.00, indicating strong buy sentiments among multiple equity research firms.

Atria Wealth Solutions Inc. cut its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 45.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,695 shares of the industrial products company's stock after selling 12,216 shares during the period. Atria Wealth Solutions Inc.'s holdings in Caterpillar were worth $5,742,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Trivium Point Advisory LLC raised its holdings in Caterpillar by 132.9% in the second quarter. Trivium Point Advisory LLC now owns 1,926 shares of the industrial products company's stock worth $748,000 after purchasing an additional 1,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Caterpillar by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,947 shares of the industrial products company's stock worth $26,037,000 after purchasing an additional 7,125 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Caterpillar by 11.2% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,315 shares of the industrial products company's stock worth $5,557,000 after purchasing an additional 1,440 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Caterpillar during the first quarter worth $427,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Caterpillar by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after acquiring an additional 15,347 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jason Kaiser sold 2,161 shares of Caterpillar stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider owned 8,632 shares of the company's stock, valued at $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Donald J. Umpleby III sold 17,168 shares of Caterpillar stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman directly owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,819 shares of company stock valued at $16,885,492 in the last quarter. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Caterpillar in a report on Saturday, September 27th. DA Davidson raised their price objective on shares of Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. UBS Group raised their price objective on shares of Caterpillar from $450.00 to $506.00 and gave the stock a "neutral" rating in a report on Monday. Jefferies Financial Group raised their price objective on shares of Caterpillar from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Melius Research upgraded shares of Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price objective on the stock in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $488.13.

Caterpillar Stock Up 2.8%

Caterpillar stock opened at $505.11 on Tuesday. The company has a fifty day simple moving average of $444.65 and a 200 day simple moving average of $385.71. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $511.50. The company has a market cap of $236.64 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 3.01 and a beta of 1.46. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 1.50.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same period last year, the business earned $5.99 EPS. The business's revenue was down .7% on a year-over-year basis. Research analysts anticipate that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar's dividend payout ratio (DPR) is 30.72%.

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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.