Atria Wealth Solutions Inc. Sells 6,743 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Caterpillar Inc. by 20%, now owning 26,911 shares valued at approximately $8.88 million.
• A number of institutional investors have increased their stakes in Caterpillar, with 70.98% of the stock owned by these investors.
• Caterpillar recently increased its quarterly dividend from $1.41 to $1.51, representing a 1.4% yield and an annualized payout of $6.04.

Atria Wealth Solutions Inc. reduced its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,911 shares of the industrial products company's stock after selling 6,743 shares during the period. Atria Wealth Solutions Inc.'s holdings in Caterpillar were worth $8,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McIlrath & Eck LLC increased its position in shares of Caterpillar by 3.2% during the fourth quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after acquiring an additional 30 shares in the last quarter. Asset Management Group Inc. increased its holdings in Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock worth $3,907,000 after purchasing an additional 32 shares in the last quarter. Summit X LLC raised its stake in shares of Caterpillar by 3.2% in the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock valued at $338,000 after purchasing an additional 32 shares during the period. Menard Financial Group LLC boosted its position in shares of Caterpillar by 1.0% during the first quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock worth $1,019,000 after buying an additional 32 shares during the period. Finally, Dunhill Financial LLC grew its holdings in shares of Caterpillar by 21.3% during the fourth quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after buying an additional 36 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CAT has been the topic of several research reports. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their target price for the company from $272.00 to $357.00 in a research note on Friday, May 16th. Morgan Stanley raised shares of Caterpillar from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $300.00 to $283.00 in a research report on Wednesday, April 16th. Bank of America lifted their price target on shares of Caterpillar from $460.00 to $495.00 and gave the company a "buy" rating in a research note on Wednesday. Truist Financial increased their price objective on shares of Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Baird R W raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $444.00.

Caterpillar Stock Performance

CAT stock traded down $10.65 during midday trading on Thursday, reaching $417.07. 4,260,195 shares of the company were exchanged, compared to its average volume of 2,880,540. The firm has a market capitalization of $196.46 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 2.69 and a beta of 1.40. The business has a 50-day moving average price of $391.99 and a two-hundred day moving average price of $355.63. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.77.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $5.99 EPS. Equities research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This is an increase from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's payout ratio is 29.43%.

Caterpillar Company 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.