Atomi Financial Group Inc. Cuts Stake in Caterpillar Inc. (NYSE:CAT)

Atomi Financial Group Inc. decreased its stake in Caterpillar Inc. (NYSE:CAT) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,322 shares of the industrial products company’s stock after selling 999 shares during the quarter. Atomi Financial Group Inc.’s holdings in Caterpillar were worth $8,731,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CAT. Vanguard Group Inc. boosted its holdings in Caterpillar by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 48,353,370 shares of the industrial products company’s stock worth $14,296,641,000 after acquiring an additional 129,216 shares during the period. Fisher Asset Management LLC lifted its position in shares of Caterpillar by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 8,139,040 shares of the industrial products company’s stock worth $2,406,471,000 after purchasing an additional 173,108 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Caterpillar by 2.0% in the second quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the period. Dimensional Fund Advisors LP grew its holdings in Caterpillar by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,069,840 shares of the industrial products company’s stock valued at $1,022,488,000 after purchasing an additional 165,358 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Caterpillar by 10.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,108,817 shares of the industrial products company’s stock worth $702,431,000 after buying an additional 198,123 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded down $11.12 during trading on Tuesday, hitting $387.13. 1,100,851 shares of the company traded hands, compared to its average volume of 2,657,862. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The business’s fifty day moving average is $351.52 and its 200-day moving average is $347.99. The stock has a market capitalization of $189.33 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.73 and a beta of 1.10. Caterpillar Inc. has a one year low of $223.76 and a one year high of $401.17.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 59.88% and a net margin of 16.58%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $5.55 EPS. As a group, equities analysts predict that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup initiated coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price for the company. Evercore ISI dropped their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Raymond James began coverage on Caterpillar in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. UBS Group raised their price target on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, Bank of America upped their price target on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $339.94.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares in the company, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Cheryl H. Johnson sold 2,975 shares of Caterpillar stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares in the company, valued at $5,347,825.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the 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 owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,668 shares of company stock valued at $2,665,760 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.